Edo State Governor, Senator Monday Okpebholo, has announced plans to commence interest-free loans for traders in the state starting January 2025.
He disclosed this on Thursday at the New Festival Hall of Government House in Benin during a congratulatory visit from the Edo State Association of Commodity Market Women and Men.
The governor emphasised his administration’s commitment to boosting economic growth and improving the livelihoods of traders.
According to him, the free-loan initiative is aimed at providing much-needed financial support to Edo traders, ensuring 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,” Okpebholo said.
“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.”
Okpebholo also outlined plans by his administration to revolutionise the agricultural sector through mechanised farming.
“In the same January 2025, we are going to start massive mechanised farming in Edo State. We are poised to ensure that food is available to all, even in these challenging times.
“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.”
The President of the Association, 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 said the association would continue to work with the government of Senator Monday Okpebholo in driving economic reforms in the state
