In a bid to boost the local economy and support small business growth, Edo State Governor Senator Monday Okpebholo has announced that his administration will offer interest-free loans to traders beginning in January 2025. The initiative is designed to empower business owners, especially traders and women who play significant roles in the state’s economic development.
During a visit to the Edo State Association of Commodity Market Women and Men, Okpebholo emphasized that traders are the backbone of the state’s economy, and the new loan program will relieve them of the burden of high-interest rates, enabling them to expand their businesses.
In addition to the loan initiative, the Governor revealed plans to modernize agriculture in Edo through mechanized farming. This strategy aims to increase food production, create jobs, and improve food security, further contributing to the state’s economic growth. Governor Okpebholo expressed confidence that these efforts would lead to long-term economic revitalization, positioning Edo as a model of progress in Nigeria.
The President of the Edo State Association of Commodity Market Women and Men, Mrs. Josephine Ebhaguejeze, welcomed the loan initiative, calling it a transformative step for the state’s traders and farmers, who will benefit significantly from this support.
Leave a Reply