Edo Commences Disbursement of ₦1 Billion Interest-Free Soft Loans, Targets 5,000 Market Women and Traders

The Edo State Government today, Monday, November 10, 2025, confirmed that it has fully commenced the disbursement of its ₦1 Billion soft loan scheme, originally approved to empower women and strengthen businesses at the grassroots level across the state.

The State Commissioner for Women Affairs and Social Development, Eugenia Abdallah, announced the details of the initiative, reiterating Governor Monday Okpebholo’s commitment to improving the economic status of women across Edo State.

The Commissioner explained that the scheme, which aligns with the state’s SHINE Agenda, is designed to inject vitality into grassroots commerce. It is specifically targeted at over 5,000 farmers and small business owners, providing loans that range from ₦200,000 to ₦500,000 per beneficiary.

Interest-Free Terms and Skill Development

In a significant relief to beneficiaries, the initial tranche of the loans has been confirmed as interest-free, structured with a manageable 12-month repayment period and a one-month moratorium to allow businesses time to stabilize before repayment begins.

“This N1 billion soft loan is intended to help boost their businesses and improve their livelihoods,” Abdallah said. “I must commend Governor Monday Okpebholo for his unwavering commitment to women’s empowerment and inclusive governance, as 35 per cent of cabinet positions are currently occupied by women.”

Beyond the financial support, the initiative has a robust capacity-building component. The Commissioner revealed that a total of 54,000 women are targeted for comprehensive entrepreneurial training, microfinance access, and essential skills development, ensuring the financial injection is supported by enhanced business knowledge.

The Ministry has also intensified social protection programmes, including the revitalization of skills acquisition centres in Uromi and Igarra, emphasizing the state government’s deliberate strategy to create inclusive growth and sustainable development across all sectors of the state’s economy.