Federal Government disburses N380m loan to MSMEs in Abia

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The Federal Government through the Government Entrepreneur Empowerment Programme (GEEP) said it has disbursed N380 million to develop micro, small and medium enterprises (MSMEs) in Abia.

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Uzoma Nwagba, Chief Operating Officer of GEEP made this known on Friday during the disbursement of GEEP Moni Market Loan to beneficiaries of the scheme at the International Conference Centre, Umuahia.

He said:”We want to disburse 30,000 loans in Abia in this year alone; as long as you are qualified you will be entitled to it”. “This programme is meant for alleviating poverty and putting money in the hands of the people at grassroots to empower them. The focus is on women and youths.”

Speaking at the occasion, Tola Johnson, Technical Adviser to Vice-President on MSMEs, described the initiative as a strong partnership between the Federal Government ,the state government and different parastatals.

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Johnson also said tthat the progress of the scheme would be monitored to ensure that the objective for establishing it was achieved.

In his speech, the Governor of the state, Okezie Ikpeazu, thanked the federal government for initiating a programme that would strengthen SMEs in the state and urged the beneficiaries to utilise the loan appropriately. Ikpeazu disclosed that the state government would organise regular training programmes for the beneficiaries to ensure that the programme would be a success in Abia.

In separate interviews with News Agency of Nigeria (NAN), some beneficiaries expressed delight over the opportunity they had received to grow their businesses. Mrs Adanma Ogbonna, a beneficiary of the programme said that the money would enable her to grow her business, promising that she would make her payment on time and in full.

Mr Osinach Chigbu, another beneficiary, said that he had received a bank transaction alert which indicated that the loan had already been paid into his account. Chigbu expressed hope that the programme would go a long way to improve the livelihood of the people of Abia. (NAN)

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