The Governor of Edo State, Monday Okpehbolo, has promised to assist traders and business owners in the state with interest-free loans from January 2025 to enable them to expand their businesses.
The Governor made the promise while receiving members of the Edo State Association of Commodity Market Women and Men at the New Festival Hall of Government House in Benin, the Edo State Capital, on Thursday, December 19.
According to him, his administration is committed to growing the state’s economy by investing in and supporting traders, businesspeople, and women who he described as the backbone of the economy.
Besides boosting local economy, Governor Okpehbolo is sure to empower businesses and improve livelihoods of the residents.
He stated that the loans will assist businesses expand without the burden of paying back high interest.
He said, “Our traders are the backbone of our economy, and we must support them with the capital needed to grow their businesses. The interest-free loans will help our traders expand without the burden of high interest rates.”
Governor Okpehbolo also revered plans by his administration to invest in the state’s agricultural sector through mechanized farming.
He insisted that via this investment, the state would tackle food shortage, create jobs, and aid economic growth and attracting investors to the state.
The Governor stated, “Agriculture is vital to our state’s economy. Investing in mechanised farming will help us ensure food availability and create economic opportunities.”
With these initiatives in place, the Edo Governor is assured of business stability, food security, and jobs for the people.
The association expressed satisfaction with the Governor’s initiative and promised to support the administration.
Speaking on behalf of the traders, the President of the Edo State Association of Commodity Market Women and Men, Mrs. Josephine Ebhaguejeze, praised the Governor for prioritizing the interest of traders.
According to her, the interest-free loans has the potential to boost the economy of the state.
She added: “With this initiative, Edo State is positioning itself as a model for economic revitalisation in Nigeria, fostering a prosperous future for its residents. We pledge our support to the Governor’s administration as these programs take shape.”