Benin City, June 26, 2025 — In a powerful move to uplift small business owners and farmers across Edo State, the government has unveiled a ₦1 billion interest-free loan initiative designed to spark local economic growth.
Why This Matters
With rising inflation and a sluggish economy putting pressure on everyday Edo residents, Governor Okpebholo’s administration has rolled out this ambitious plan to energize the informal sector and help micro-entrepreneurs stay afloat.
“We are committed to real, people-centered development,” the governor said during the launch. “This isn’t just a handout—it’s an investment in Edo’s economic backbone.”
Who Is Eligible?
If you fall into any of the following categories, you could be among the first beneficiaries:
- Registered small and micro business owners in Edo State
- Farmers with verifiable land ownership or lease
- Market women, youth entrepreneurs, and artisan groups
- Cooperatives and trade unions based in Edo
The loans will range from ₦50,000 to ₦500,000, and the best part? Zero interest, plus a flexible repayment timeline tailored to each business type.
How to Apply
The Edo State Government is set to launch an online portal later this week. Here’s what you’ll need:
- Proof of business registration (CAC or state-recognized cooperative)
- Valid ID and utility bill for address verification
- Short business plan or proof of farm activity
- Local government area (LGA) endorsement
Stay glued to Edo Updates—we’ll publish a step-by-step application guide as soon as the portal is live.
