Eno offers N1.5b interest-free loans to A’Ibom traders 

• Launches food scheme for vulnerable

As part of measures to ease the rising cost of commodities in the country, a N1.5 billion interest-free revolving loan scheme has been instituted for all traders in Akwa Ibom State.

Under the scheme, N500 million was earmarked for traders in each of the three senatorial districts of the state.

Eno made the announcements, while flagging off a food security programme for the vulnerable, needy and the poor at the Itam Market, Itam in Itu Local Council.

The governor, who tagged the scheme, ‘Arise Free Food,’ emphasising his administration’s commitment to the well-being of the downtrodden, said that he will continue to develop policies geared toward lifting the poor from a state of despair.

Eno announced the appointment of three senior special assistants and 10 special assistants to the governor on trader matters to cover the three senatorial districts and 10 federal constituencies of the state, in that order.

He said that the traders’ credit facilities would be made available to them through the state-owned Ibom Fadama Micro Finance Bank, urging the traders to open accounts in the bank.

The governor said: “I heard that it is because traders get loans from places with high interest, and they were unable to pay back the loan and the interest that is causing prices of commodities to soar in the market.

“We are releasing to each senatorial district market an interest-free loan of N500 million per senatorial district.”