Abia Seeks N1bn Agric Loan from CBN, hosts EDC for S’East

Abia State government has taken steps to secure a N1 billion loan from the Central Bank of Nigeria (CBN) to boost agricultural production.

State commissioner for information and strategy, Mr. Bonnie Iwuoha made this known yesterday while briefing journalists on the outcome of the weekly meeting of the state executive council, saying that the loan would be strictly applied for the development of agriculture.

“It is going to be purely for genuine farmers; it is not going to be used for political patronage. It is not going to be used to settle kiths and kin of political office holders,” he said.

Iwuoha said that the need to secure the agricultural loan had become necessary because of the new thinking by the present government to engender agriculture revolution in the state, adding that the ministry of agriculture had been directed to come up with a blue print for the programme.

He explained that the plan to revolutionalise agriculture in Abia state was to ensure food security for all citizens, engender youth employment in the agricultural sector and the attendant economic empowerment.

The information commissioner assured that two moribund industries - Golden Guinea Breweries, Umuahia and International Glass Industry, Aba – were set to bounce back to life.

Meanwhile Abia State government has entered into a tripartite agreement with the CBN and the international Centre for Development Affairs (ICDA) for the establishment of Entrepreneurial Development Centre (EDC) for the South East zone with Abia as the host.