Delta State Government Set to Launch ₦1bn Loan Scheme
The fund will offer small businesses single-digit interest below nine per cent, with disbursement through the Bank of Industry expected in early April.
Delta State Government has confirmed that the ₦1 billion loan approved in February will soon be available to interested individuals, once final documentation with the Bank of Industry is completed.
Olisa Ifeajika, the Executive Assistant to the Governor on Public Enlightenment, made the announcement during a live radio programme in Asaba. He explained that the Governor, Sheriff Oborevwori, selected the Bank of Industry for its strong reputation in supporting businesses.
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The loan aims to support Micro, Small, and Medium Enterprises (MSMEs), key drivers of the state’s economy, offering a single-digit interest rate not exceeding 9%. Ifeajika highlighted that the loan would boost small businesses and contribute to the state’s GDP growth.
The government is finalising an agreement with the bank, with disbursement expected to begin in early April. Ifeajika also noted that the scheme is part of Governor Oborevwori’s broader effort to enhance economic growth and ensure efficient project execution across the state.
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