Okpebholo releases Interest-Free Loan to 5,000 beneficiaries

Edo State Governor, Senator Monday Okpebholo, on Friday June 13, released between ?200,000 and ?500,000 to 5,000 beneficiaries in the Interest-Free Loan Scheme launched by his administration.

The governor, who noted that the beneficiaries have a 12-month repayment period and a one-month moratorium to enable smooth take-off and repayment, explained that the initiative, was a direct reflection of his administration’s alignment with President Bola Ahmed Tinubu’s Renewed Hope Agenda.

According to him, it was a major step forward in empowering Edo people and boosting the state’s local economy.

He stated: “I am pleased to announce the release of the first batch of funding to beneficiaries under the ?1 billion Edo State Government Interest-Free Loan Scheme — a bold initiative I approved in March 2025 to support small businesses, farmers, and artisans, and to stimulate grassroots economic growth across Edo State.

“This phase of the scheme targets over 5,000 beneficiaries from all three senatorial districts. Each will receive between ?200,000 and ?500,000, with a 12-month repayment period and a one-month moratorium to enable smooth take-off and repayment.

“This effort is a direct reflection of our alignment with President Bola Ahmed Tinubu’s Renewed Hope Agenda — putting people first, and creating practical support systems that unlock prosperity from the bottom up.

“This is not just a policy; it is a promise kept. During my campaign, I pledged to provide interest-free loans to hardworking Edo citizens. Today, we are delivering on that promise with transparency, fairness, and the firm resolve to build a new Edo where no one is left behind.

“Let me assure every hardworking entrepreneur, every farmer, every market woman and artisan across our state: this is only the beginning. We will continue to deploy practical policies that create opportunities, stimulate trade, support agriculture, and strengthen the resilience of our informal economy.”

×