The Delta State Government has partnered with the Bank of Industry (BOI) to provide single-digit interest loans to small and medium-scale enterprises as part of efforts to reposition the state’s economy.
The Commissioner for Economic Planning, Hon. Sonny Ekedayen, disclosed this on Wednesday during a media parley with journalists in Asaba.
He explained that the state-backed fund, now operational through the BOI, offers loans at about nine percent interest, significantly lower than commercial bank rates which often exceed 25–30 percent.
“This is a major relief for small businesses struggling with high borrowing costs. The facility will enable expansion, improve productivity and strengthen local manufacturing and distribution networks,” Ekedayen stated.
Beyond financing, the Commissioner announced Delta’s inclusion in the second batch of states approved for the Special Agro-Industrial Processing Zone initiative, a federal government programme supported by development partners.
He said the initiative would stimulate agro-processing, create value chains in cassava and other crops, and generate large-scale employment.
Ekedayen revealed that through a Public-Private Partnership arrangement, the state has cleared thousands of hectares of land for mechanised cassava, rice and vegetable cultivation, with greenhouse farming already underway.
He encouraged agricultural graduates and professionals to register interest with the Ministry of Agriculture, noting that new employment opportunities are emerging within the expanding agro-industrial project.
