The National Directorate of Employment (NDE) has disbursed business loan of N100,000 each to owners of small-scale enterprises in Ekiti State.
The Director-General of NDE, Mallam Abubakar Nuhu Fikpo, who spoke during the disbursement ceremony in Ado-Ekiti, said the beneficiaries have been trained under its Basic Business Training Scheme.
Represented by the State Coordinator of NDE, Sanusi Akeem, the DG stated that the agency will remain committed to its mandate of ensuring job opportunities for the youths.
He added that poverty and youth restiveness could only be tackled in the country through deliberate efforts to expose the unemployed youths to opportunities and support for them to be financially independent.
The DG maintained that the scheme was designed to enhance the operational capacity of micro businessowners and also improve their incomes for economic development.
According to him, “Each of the beneficiaries is being given N100,000 loan to enhance their various businesses.
“The main objective of this scheme is to enhance the operational capacity of the beneficiaries’ existing enterprise and in turn improve their earnings.
“As I congratulate the beneficiaries of today, I equally encourage you to make good use of this opportunity by investing the money into your businesses.”
“We are of no doubt that your commitment and diligence will facilitate the repayment of the loan, which will definitely allow other people from the state to benefit from such good gesture from the Federal Government.
“Please, be aware that the loan attracts nine percent interest with a moratorium period three months. You are also expected to repay this loan within one year.”
Fikpo commended state government and other stakeholders for support “on this daunting but noble task of combating poverty in the state and in Nigeria as a whole through the implementation of effective and impactful job creation programmes.”
ALSO READ: FCCPC storms Abuja Chinese supermarket over claims of discrimination against Nigerians
Source: