The Central Bank of Nigeria (CBN) has authorized a 2 billion Naira loan to the government of Imo State for the empowerment of artisans in the state.
Ford Ozumba, the Commissioner for Labor and Productivity, revealed this to journalists in Owerri on Tuesday while unveiling the Imo 2023 Entrepreneurial Product Expo in collaboration with CBN.
CBN 2 Billion Naira Loan For Artisans
Continuing his address on the topic, Mr. Ozumba said that the Imo State administration approached the CBN and was found to be qualified for the loan.
“The project was conceived to expose artisans of state origin to trade, assist them in using their knowledge to migrate into the digital socio-formation, create structures and systems that would engage youths in productive sectors, and for them to train others to alleviate poverty and contribute to the state’s efforts to improve the economy,” the Commissioner explained.
“The money is in collaboration with the Central Bank of Nigeria, which has sanctioned N2 billion for Imo State.” We don’t have any money. It has been deposited in the bank. It will be given to young people in the trade. It’s a loan from the Central Bank of Nigeria. This project has a facility at the CBN. When we approached them, they informed us that Imo was qualified. The funds will be distributed to craftsmen. These artists have already been created.
We collaborate with the craftsmen’s associations. So, as part of the project’s activities, we’re launching a weekly event, the inaugural Imo State Innovation and Entrepreneurship exhibition in Owerri, on May 10th.
“The state is fortunate in that it has several outstanding artisans and accomplished industrialists whose work is available.”
“We want to put our people on display to promote their abilities, skills, cleverness, and originality, and to expose this to the international community through well-designed organized technology.” They’d be motivated to export their goods and contribute to the growth of our economy,” he remarked.
Update
To kickstart the program across the thirty-six states in the federation, the Central Bank of Nigeria has approved the first tranche. The money will be available for qualified applicants who have the requisites and maintain a good public image.
Also, applicants can boost their chances of getting the loan by meeting up with the following details.
- Ensure you provide all the necessary documents.
- During application on the site, ensure that your files are in the specified sizes.
- Do not provide documents with falsified details.
- Further, try as much as possible to track your application by checking the official website for updates.