Abia to Secure N1bn Agric Loan from CBN

Governor Okezie Ikpeazu

Abia state government is still engaged in efforts to secure N1
billion loan from the Central Bank of Nigeria (CBN) in order to
boost agriculture, which is one of the pillars of its developmental
policy.

The Chief Press Secretary to the governor, Mr. Godwin Adindu
made this known yesterday while briefing journalists on the high
points of the administration of Okezie Ikpeazu in the last 300
days, stating that the governor has remained consistent both in
service and performance.

He said that the agricultural loan being sourced would be used to
give real meaning to the agricultural revolution policy of the
Ikpeazu administration, which is already gathering steam.
“This loan will be disbursed purely to genuine farmers and not for
political patronage,” he said.

The governor’s spokesman said that government has indeed
given serious attention to the agric sector and has launched the
return to farming and women in fish farming initiative to create
employment and boost food production.

He explained that “the initiative was aimed at empowering the
youths and women by setting up farming cooperatives which will
help drive key government policy a regards agriculture”, adding
that government would make land, finance and training accessible
to farmers.

Adindu noted that the overall objective of the agric revolution
policy of Abia government was to make agriculture a major
“support base” of the state economy as government aims to
make the economy less dependent on oil money from federal
allocation.

He also said that the state has adopted a new approach to rural
development with the formation of the Abia State Rural
Infrastructure Development Initiative (ASTRIDE) aimed at providing
at least one project in each of the 184 INEC wards across the 17
local governments.

Already ASTRIDE committees have been set up and they are
required to choose for their areas the type of project needed from
the list of government projects thereby closing the gap in
infrastructural development in the rural areas.