National Directorate of Employment (NDE) has commenced disbursement soft loans to petty traders, comprising youths and women, in Akwa Ibom.
Coordinator of NDE in the state, Mr Obegolu Obiora, said on Wednesday during the orientation and loan disbursement exercise that the loans would be refunded after the three-month moratorium in order to allow others to benefit.
The soft loan, which is under the Micro Enterprise Enhancement Scheme (MEES), will be given to 74 beneficiaries at N20,000 each, totaling N1,480,000.
Obiora commended the Federal Government for the initiative, adding that the funds were given to only those who were already in business to help strengthen its financial flows which would lead to business expansion and job creation.
He said that the Director-General of NDE, Mallam Abubakar Fikpo, had assured of continuous implementation of the laudable empowerment programmes that would help in raising the employment index in the country.
“This initiative is part of the federal government’s efforts at addressing the continuous rise in the unemployment rate in the country.
“The director-general has reiterated the commitment of the directorate to its mandate through the implementation of empowerment programmes, aimed at generating jobs, creating wealth and enhancing capacity building for unemployed persons.
“This move will boost the economy through access to finance for petty traders and other small business owners, and enhance the operational capacity of existing micro enterprise owners to expand their businesses and, in turn, improve their earnings.
“The director-general declared that 74 youths and women-beneficiaries will go home with N20,000 each, totalling 1,480,000, and further advised them to make judicious use of the fund to expand their businesses,” he said.
One of the beneficiaries, Mrs Abasifreke Handson, thanked the federal government for the loan, saying that the fund would help in boosting her perfume and bag-making business.
Another beneficiary, Mr Kenneth Bassey, also commended NDE and the federal government for their efforts at tackling unemployment in the country.
