Ebonyi state government has, through the Ministry of Business Development, enjoined Ebonyians to take advantage of the ongoing state loan targeted growing their businesses and farms.
The government of Engr. David Umahi expressed readiness to help owners of Small and Medium Enterprises survive in the state, and further explained that the administration would work collaboratively towards ensuring they assist those who intend to delve into agriculture or grow their businesses and farms in the area.
This was disclosed by the Commissioner for Business Development, Hon. Stephen Odo while rounding off his sensitization tour, in Afikpo South Local Government Area of the state.
Hon. Odo urged the people of Afikpo South to embrace Agriculture stressing that the World economy has been facing a lot of challenges prior to the challenges of COVID-19,
“but became worst since the outbreak of COVID-19 pandemic.
“What we call COVID-20 in our own language is ‘hunger’ because if we don’t do what we are supposed to do in this COVID-19 period, we may face COVID-20 that might be more dangerous than COVID-19 and that’s why we said let us explain to our people.”
However, highlighted that the said offer must not be mistaken for a grant, pointing out that same is not compulsory for everybody, hence it is a loan they must pay back in due time.
“The money is not grant but loan and loan is not bad if you are using it for business.
It is not compulsory for everybody to get the loan; if you check yourself and see no need to borrow just forget about it.
“So if you look at your business and see that there is no need of borrowing rushing to borrow money because there is money to borrow.
“We urge you to feel free to approach the ministry of Development for assistance if you have need in terms of funding or any other aspect.
“The one from CBN is not state government fund and that one, you can get between 1million and 10million naira; they will not tell you to bring collateral and you can pay back over a range of time (maybe two, three or five years, seven years) depending on the agreement between you and the bank.
Presently, you can pay at 5% per annum but after COVID-19, it will go off from 9%.
“For anybody who wants to do business, it is a good way to actually survive because it is one of the cheapest funds you can ever get within the environment.”
According to Odo, the loan will be immensely helpful to the people particularly those who want to go into agriculture, adding, “because it has the opportunity to employ everybody in that state. Agriculture is no longer when peoole use to carry hoes and cutlasses around”, he explained.
“Agric has the opportunity to employ all of us and that is the truth and we are saying that Agric is no longer when we used to carry hoes and cutlasses around; that is where our mind runs to once we are asked to get involved in Agriculture.
“We’ve been doing this kind of programs in town but we came to realize that the people at the hinterlands find it difficult to town and so we decided to your the local governments to sensitize Ebonyians and let them know that it is good to value all these things happening in the world because His Excellency himself really values it.
“We can only come out of it when we do what we are supposed to do and what we are supposed to do is to value farming because Ebonyi State has ‘Comparative Advantage’ in Agriculture and Solid Mineral; no doubt, our land is fertile. For this reason, it is important to make good use of our farm produce and other things Ebonyi can boast of.
