Abia State Governor, Chief T. A. Orji, has described the N220 billion loan facility from the Central Bank of Nigeria (CBN) for the Micro-Small and Medium Enterprises (MSMEs) as a wonderful innovation, saying it shows that the apex bank has the capacity to touch the lives of the rural people as well as alleviate poverty and create employment at the rural level.
Governor Orji who disclosed this while answering questions from newsmen in Abuja after signing a Memorandum of Understanding (MOU) with the CBN for the sum of two billion naira, said the money would go directly to the people including farmers, artisans, the down trodden, women among others who he said would use it to improve themselves and impact the society.
He maintained that with the additional funding, there will be additional impact on the people as well as additional infrastructural development in Abia State noting that many more people will benefit from the loan.
The Governor who maintained that the loan would multiplier effects on the state, said legislation is the best way to ensure continuity as incoming administration must obey laws formulated by the House of Assembly.
Governor Orji was accompanied by the Commissioner for Finance, Dr Philip Nto, his Women Affairs counterpart Mrs. Nwaejike, Accountant General, Chief Gabriel Onyendilefu among others.
GOVERNOR ORJI’S 2 MINUTES INTERVIEW…
Can we have your reaction to the innovation by the CBN?
It’s a wonderful innovation by the CBN. It shows that the CBN can now touch the lives of the rural people, touch the masses because there is this impression that the CBN is there to formulate only policies. But today, and subsequently we have known that the CBN has the capacity to touch the rural people, to alleviate poverty and to create employment at the rural level.
You participated in the signing of an MoU with the CBN, how much are you benefiting from and how are you going to put it into use?
Well, my state will get N2 billion and when the money is made available it will go directly to the people; those who are supposed to get it. The farmers, artisans and the down trodden will get it. The house wives, the women, all of them, they will use it to improve themselves and impact our society.
Prior to this time, when we visited Abia State we saw a lot of projects executed by your administration. How are you going to improve on what was already existing?
With this additional funding, it means additional impact on the people, additional improvement on the infrastructural development of Abia because N2 billion is a small money. If we put it in agriculture, if we have about three Liberation Farms in Abia, we are going to increase the Liberation Farms to five. If we have 100 people that we give loan for farming, they will increase to 200 and that will have a multiplier effect on Abia State.
Talking about continuity, what are going to ensure that things you laid on the ground will continue even after your tenure?
Of course you heard it in the hall; by enacting legislation and that is the best way. Formulate laws with the House of Assembly and the laws will be obeyed by any incoming governor.