Business
Abia Disburses N1bn Agric Loan To Farmers
Governor Theodore Orji of Abia last Wednesday said the state government disbursed N1 billion agriculture loan recently accessed for the farmers.
Orji told newsmen in Umuahia that the loan was only given to farmers that qualified for its purpose.
The governor said the beneficiaries were selected after a rigorous screening.
“The loan is properly managed because we brought in a consultant that handled the situation. “We are now at the stage of monitoring to see how the loan is applied by the beneficiaries.’’
Orji said Abia had recorded milestones in the agriculture sector since the inception of his second term. He said the recently privatised Abia Rubber Company had taken off in full swing.
“No fewer than 1,200 youths have been employed by the company and as it expands, they will employ more,” he said.
Orji said the state government had entered into partnership with a Malaysian conglomerate to revitalise some palm oil estates.
The estates are located at Ohambele and Ulonna, Ukwa East and Umuahia North local government areas.
Meanwhile a total of 175.98 million shares worth N1.9 billion were traded in 2,802 deals on the Nigerian Stock Exchange on Wednesday. This was against the 215.58 million shares valued at N1.7 billion traded in 2,714 deals on Monday. The market capitalisation appreciated by N135 billion to close at N9.109 trillion. The All-Share Index also rose by 422.41 points or 1.5 per cent to close at 28,501.21 in contrast to the 28,078.80 posted on Monday. NewGold led the price gainers’ chart with a gain of N2 to close at N2, 534 per unit. GTBank appreciated by N1.60 to close at N24.60 per share, while Presco gained N1.50 to close at N18.50 per share FBN Holdings appreciated by N1.38 to close at N17.10 per share, while Nigerian Breweries rose by N1 to close at N148 per share. Conversely, Lafarge Wapco led the price losers’ pack with a loss of N1.03 to close at N57.50 per share. Portpaint lost 21k to close at N4.15 per share, while Morison and JOHNHOLT dropped 17k each to close at N3.30 and N3.23 per share respectively. Zenith Bank dipped by 9k to close at N19.40 per share.
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