National Directorate of Employment (NDE) in Kwara State has, through the Small Scale Enterprise Department, disbursed the sum of N11,060,000 as loans to 228 beneficiaries trained on the Micro-Enterprise Enhancement Scheme (MEES) in the state.
Speaking during the disbursement programme in Ilorin on Wednesday, the director-general of the NDE, Mallam Abubakar Nuhu Fikpo, represented by the state coordinator, Engineer Aba Timothy Omachoko, said that each of the 228 beneficiaries got N20,000 each.
The NDE DG said that seven beneficiaries, previously trained on Start Your Own Business (SYOB), were presented with the sum of N500,000 loan each, adding that two beneficiaries from the matured people’s programme benefitted the sum of N1.5 million each in the state.
He also said that banks had been directed to credit the beneficiaries with the approved amounts
through the bank account details of the beneficiaries, accordingly.
The DG, who said that beneficiaries of the soft loan included market women, petty traders and youths, added that the loan was meant to enable them to start their own businesses, cater for their domestic needs and contribute to the microeconomic growth of the state.
He urged beneficiaries to make judicious use of the loans to enable them to make prompt repayment plans, saying that the loans are revolving loans aimed at providing access to others.
“The N20,000 might sound meagre to someone, but to the NDE it can be of tremendous impact to the beneficiaries and pursue poverty away from them, as they are potential billionaires by a craving to fend for themselves. What matters is the ability to get oneself engaged in the acquisition of technical or entrepreneurial and agricultural skills as a catalyst to poverty eradication in the country”, he said.
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