Edo State Governor Okpebholo announced Monday that his administration plans to provide interest-free loans to traders in the three senatorial districts of the state in order to assist them in growing their businesses.
The governor also disclosed plans to revolutionize the agriculture sector through robotic farming. Both the “interest-free loans and mechanized agriculture” projects are expected to begin in early January of the following year. Governor Okpebholo made this announcement at the New Festival Hall in Government House, Benin City, to members of the Edo State Association of Commodity Market Women and Men (ESACM), who were there on a congratulatory visit.
He emphasized the dedication of his administration to improving Edo residents’ quality of life and guaranteeing long-term economic prosperity by empowering traders, businessmen, and women who play major roles in the economic development of the state.
The governor explained that the interest-free loan initiative is aimed at providing much-needed financial support to Edo traders, to ensure that they have the resources to expand their businesses without the burden of daunting interest rates.
“Early in January 2025, we shall begin to provide interest-free loans to Edo traders. Our traders are the backbone of our economy, and we must support them with the needed capital to help boost their businesses and improve the state’s economy.”
“The interest-free loans that we are starting next year in January will help empower our traders, enhance growth, development, stability, and improve the livelihoods of the people,” Governor Okpebholo said.
He also listed plans by his administration to revolutionise the agricultural sector through mechanised farming. “In the same January 2025, we are going to start a large mechanised farming in Edo State. We are poised to ensure that food is available to all, even in these challenging times.Okpebholo Set To Launch Interest-Free Loans And Mechanised Farming In January 2025
“Agriculture is vital to our state’s economy. Investing in mechanised farming will boost food production, create jobs, and ensure food security for our people.”
Reacting, President of the Association, Mrs. Josephine Ebhaguejeze, expressed gratitude for the Governor’s initiative, noting that it will be a game-changer for traders and farmers in the state and pledged the Association’s support and loyalty to the administration.
She stated that the Association will continue to work with the government of Senator Monday Okpebholo in driving economic reforms in the state.
“With this initiative, Edo State is on track to becoming a model for economic revitalisation in Nigeria, paving the way for a prosperous future for all its residents. As the new programmes take shape, the state looks forward to reaping the benefits of enhanced productivity and financial independence for its traders and farmers alike,” Mrs. Ebhaguejeze added.
The mechanised farming initiative is expected to attract investments and partnerships with agricultural companies, as it will further enhance the state’s capacity for large-scale farming and reposition the economy.
