Edo Governor Okpebholo Disburses ₦1bn Interest-Free Loan to 5,000 Farmers, Traders
Beneficiaries to receive ₦200,000 each with 12-month repayment, 1-month moratorium
Okpebholo Disburses ₦1bn Interest-Free Loan to 5,000 Edo Farmers, Traders
Edo State Governor Monday Okpebholo has commenced the disbursement of a ₦1 billion interest-free loan to 5,000 farmers and traders across the state in a move aimed at revitalising grassroots commerce and rural economies.
The initiative, which aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda, will provide each beneficiary with ₦200,000, repayable over 12 months, with a one-month moratorium.
Speaking during the launch event, Governor Okpebholo described the scheme as a fulfillment of his campaign promises and a critical step toward inclusive economic growth.
“Today, what we are doing in Edo State is the implementation of the agenda of the President… It is time for progress for our people,” he said.
He also emphasised the importance of ensuring the funds reach the intended recipients.
“I just wanted to be sure that this money will not go to the wrong hands… Because with my past experience, whenever the Executive gives out loans, the money does not get to the grassroots,” Okpebholo added.
Boosting Rural Economy
Edo State Commissioner for Finance, Emmanuel Ehidiamen Okoebor, highlighted the economic objectives of the scheme.
“This loan will boost the economy of our rural and semi-urban areas, create jobs, and reduce poverty,” Okoebor stated.
The initiative is expected to directly support agriculture, petty trading, and small-scale businesses, thereby promoting self-reliance and sustainable livelihoods in underserved communities.
The disbursement signals a significant effort by the Okpebholo administration to bridge the gap between government policies and grassroots development, while reaffirming a commitment to inclusive governance.
