Edo State Governor, Monday Okpebholo
Edo State Governor, Monday Okpebholo, has launched a N1 billion interest-free loan scheme to support farmers and traders across the state.
The initiative aims to empower over 5,000 beneficiaries, providing them with critical working capital to stimulate local businesses.
Okpebholo described the launch as a personal fulfillment of his campaign promise.
“I wanted to ensure this money reaches the right people. That’s the reason for today’s gathering,” he said, emphasizing his determination to avoid past pitfalls through strict oversight and transparent implementation.
The governor urged anyone excluded to report directly to him, highlighting his commitment to ensuring the funds reach genuine grassroots recipients.
“This time, you repay exactly what you borrowed, no interest attached,” he assured.
The state Finance Commissioner, Emmanuel Okoebor, said the initiative would boost rural economies, generate employment, and lift many residents out of poverty.
Each beneficiary would receive between N200,000 and N500,000, repayable over 12 months with a one-month moratorium.
Okoebor lauded Okpebholo’s quick achievements, citing infrastructure, education reforms, and employment programs already realized within the governor’s short time in office.
The loan scheme is seen as a pilot for future initiatives, promising a brighter economic future for Edo State.
