WELFARIST MANIFESTO: Anosike Proposes Traders’ Microfinance Bank, Factory Reopening to Boost Abia Economy

Anosike Proposes Traders’ Microfinance Bank, Factory Reopening to Boost Abia Economy

The Peoples Democratic Party (PDP) governorship candidate in Abia State, Dr. Kelechi Anosike, has proposed the establishment of a Traders Microfinance Bank in Aba as part of plans to expand economic opportunities for traders, artisans and small businesses.

Anosike said the proposed financial institution would provide uncollateralised and interest-free financing to traders, with cooperative organisations also expected to play a role in accessing and managing funds.

He described cooperative economics as an important component of his proposed economic welfare programme.

According to him, registered cooperatives comprising traders, artisans and communities would be able to access revolving funds to support their businesses.

Anosike also promised to attract investment into Abia State by opening up the state to domestic and foreign direct investment.

He said governance should go beyond awarding contracts to include creating an environment where businesses can invest, industries can operate and jobs can be created.

The PDP candidate identified solid mineral deposits in parts of Abia as areas he said could be developed to generate economic activity.

He specifically mentioned gypsum in Imenyi and limestone in Arochukwu and Itumbauzo, while also promising to investigate the circumstances surrounding shut oil wells in Owaza with a view to reopening them.

Anosike further pledged to reopen some factories he said had become inactive, citing the Aba Shoe Factory as an example.

He said industrialisation would help create employment while reducing pressure on artisans and small businesses.

“We’ll build factories,” Anosike said during the interview, adding that investment in productive sectors would be central to his economic strategy.

He also proposed a review of the state’s tax burden, particularly on low-income earners.

Anosike argued that petty traders and informal workers should not bear excessive taxation, saying government should instead broaden its economic base and collect more revenue from those with greater capacity to pay.

His proposed economic agenda is consistent with his previously announced welfarist manifesto, which includes cooperative financing, industrialisation and a proposed Traders Microfinance Bank in Aba. Recent reports on the manifesto said the proposed bank would provide interest-free revolving loans through registered cooperatives.

The candidate also linked economic development to agriculture, entrepreneurship and job creation, saying government should focus on productive investments capable of generating employment and improving citizens’ welfare.