Abia State Government Launches Interest-Free Loan Scheme for Youth Farmers

The Abia State Government has officially commenced the disbursement of interest-free loans aimed at empowering 302 youths trained in agricultural ventures. This initiative was announced by Mr. Okey Kanu, the Commissioner for Information and Culture, during a press briefing following the State Executive Council meeting at the Government House in Umuahia.

In February, the state government sponsored these youths to undergo specialized training in various agricultural practices at CSS Global Integrated Farms, a prominent facility located in Nassarawa State. This training is part of the government’s broader strategy to enhance food production and support sustainable agricultural development within the state.

Commissioner Kanu highlighted that the disbursement of the loans follows the approval from Governor Dr. Alex Otti, which was granted in September. He emphasized the importance of adhering to a structured disbursement process to ensure that the funds are utilized effectively for their intended purpose.

"Beneficiaries will receive their loans in tranches, tied to specific milestones that reflect the progress of their agricultural projects," Kanu stated. "This approach ensures that the funds are used responsibly and contribute to the overall goals of increased food production and agricultural sustainability in Abia State."

The state’s Ministry of Agriculture will oversee the loan disbursement process, ensuring that all procedures align with best practices and due diligence. By providing these interest-free loans, the Abia State Government aims to foster a new generation of skilled farmers who can contribute to the local economy and food security.

This initiative marks a significant step in the state’s commitment to youth empowerment and agricultural development, positioning Abia State as a leader in innovative agricultural practices.