Traders in Akwa Ibom State have promised to reciprocate the gesture of an interest-free loan granted them by Governor Emmanuel Udom, by supporting and embarking on a unit by unit mobilisation for his second term bid.
Governor Udom, had earlier approved the release of N2billion, as interest-free loans to the traders to boost trade and commerce within the state.
The governor said the interest rate in the country is high, but “we are making our scheme interest- free to empower entrepreneurs to grow their businesses for more outputs optimisation.
“This is because if we charge these entrepreneurs interest rate on the loan, it would automatically wipe out their profits, making it difficult for their businesses to thrive.”
In appreciation, no fewer than 40,000 traders under different cooperative societies visited the Government House, to thank the governor for boosting their businesses through interest-free loans.
Speaking on behalf of the traders, Special Assistant to the governor on Trade and Market Matters, Akparawa Raphael, noted that the benefit of the interest-free loans to the
traders could not be over-emphasised.
“It is because of your kind gesture towards the traders that we have come to say a very big thank you. We are also praying and we are hopeful that you will do even more in your second term.’’ He said.
Governor Emmanuel reassured them that his administration was committed to providing an enabling environment for every business, especially small and medium scale businesses to thrive.
The governor said: “One of my visions for Akwa Ibom State is wealth creation. Today, we have provided an atmosphere where businesses can thrive. I sincerely thank the traders for seeing the need to appreciate the interest-free loans.’’