Anambra approves N35m loan to youth entrepreneurs in Onitsha

Anambra State Government, through its Small Business Agency (ABSA) has approved thirty-five million naira loan to 70 youths from Onitsha, to enhance their businesses.

Willie Obiano, the State Governor, confirmed the development, while responding to the address of the Obi of Onitsha, His Majesty, Igwe Nnemeka Achebe, at the 2016 Ofala Festival, held weekend, at the Obi’s palace.

Obiano stated that the agency was established to deepen entrepreneurship in the State, noting that the programme would be sustained to outlive his administration and future administrations in the State.

He said that ASBA has effectively distributed the sum of N1.5 billion as start-up capital to micro, small and medium entrepreneurs in Anambra State, which he revealed was part of the N2 billion the Central Bank of Nigeria (CBN) made available to States to help stimulate local entrepreneurship across the country.

According to him, “We have been able to disburse N35 million to the youths that were properly trained and organized. What we want is structure. What is important to us in Anambra State and in leadership, is not strong personalities, but strong institutions.

“If you are a strong personality, like we have experienced in the past in the State, when you leave office, you leave nothing behind”.

He urged Onitsha indigenes to support the Obi, whom he described as a good traditional ruler.

“Your custom makes every Anambra fellow proud. Onitsha people have a good traditional ruler, “he said.

Igwe Achebe in his speech announced that 70 youths from the community, who were self employed in one trade or the other, successfully, underwent an 8 weeks entrepreneurship development programme, organized by a team of experts-led by Ikemefuna Ikeme, a professor and distinguished son of the community.

He revealed that the Anambra State Small Business Agency has approved a loan of N500,000 to each of the entrepreneurs, amounting to N35 million and urged the beneficiaries to  apply diligence and hard work to succeed.

He urged parents and relatives of the beneficiaries to pray and guide them to ensure that they pay back the loan on schedule to encourage the organizers to take up the next set and train them to also benefit from the scheme.

As part of efforts to cushion the harsh effects of the current economic recession, the governor of Anambra state, Willie Obiano, suspended sale of emblems, collection of wheel barrow tax and hawkers permit in all parts of the state.

He also lowered Okada and Keke levies to N50 and N200 daily respectively to cushion the effect of the recession.