The National Directorate of Employment (NDE) has disbursed a little over N2.9 million to unemployed youths and artisans across the 16 Local Government Areas of Ekiti state.
While three youths under its Start Your Own Business (SYOB) were given N500,000 each, 74 under its Artisans of Micro Enterprise Enhancement Loan Scheme (MEELS) got a loan of N20,000.
Speaking during the official disbursement in Ado-Ekiti, the Ekiti state capital, the Director General of NDE, Mallam Abubakar Fikpo stated that the schemes were part of the moves by the agency to create jobs and reduce unemployment in the country.
Represented by the state coordinator, Sanusi Akeem, the DG explained that the federal government would remain committed to providing the needed platforms for the creation of enabling environment for youths to thrive to enhance the socio-economic development of society.
He added that the schemes were also designed to boost the capacity of owners of micro-enterprises to expand their businesses, earn more money and improve the economy.
The DG listed the objectives of the schemes to include, ” To empower unemployed Graduates to establish/enhance their businesses and thereby increase their wealth
” To increase the number of persons employable by their businesses. To boost the economy through the leverage and access to finance for petty traders and other small business owners
” To enhance the operational capacity of existing micro-enterprise owners to expand their business and in turn improve their earnings. To create jobs by employing people to assist in running and expanding businesses.”
While advising the beneficiaries to deploy the resources at enhancing their income in business, the NDE boss however said, “The loan will have a moratorium of six months and three months respectively before you start paying back and it is repayable in three years so that other people could benefit as well.”
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