As part of efforts to cushion the effect of current economy reality and increasing unemployment, the Federal Government of Nigeria via the National Directorate of Employment (NDE) has approved a loan facility of up to #250,000 (Two Hundred and Fifty Thousand Naira).
This cheering news was made public by the Bauchi coordinator of NDE, Lawan Yaya, in Bauchi while fielding questions from newsmen.
He disclosed that this particular loan is the Federal Government gesture to bridge the unemployed gap amount the teeming youth by putting out intervention program aimed at making them self-employed.
“The federal government is seriously focusing on unemployed youths by rolling out different interventions to make them self-employed, at the very least.
“At the end of a recent NDE training on entrepreneurship, 40 beneficiaries out of 100 got loan packages ranging between N250,000 and N500,000 and they are now in serious businesses.
“In agriculture, the Rural Employment Promotion Department of the NDE recently trained 93 participants who were given N100,000 each as loan packages.
“Some of them bought cows, while some are into crop production; some are into agriculture value chain and they have even employed some hands and became employers of labour already,’’ Mr Yaya opined.
The Bauchi Coordinator of NDE explained that some specific beneficiaries will be granted #60,000 eahc under the umbrella of Extended Special Public Works, then get grouped into a cooperative society that enable them pull resources together for a common goal.
He said: “The federal government is really making a serious impact in addressing unemployment issues in the country.
“I am saying this because the Industrial Training Fund had invited me to their programme and we have seen young entrepreneurs that were given loans and have already become employers of labour.’’
Yaya further added that Nirsal Microfinance Bank is one of the banks that the CBN has partnered with in assisting unemployed youth to become employers.
The NDE Coordinator also pointed out the Bank of Agriculture is also making giant stripe this the empowerment of the youth advising the beneficiary of various Federal Government Intervention Loan to make good use of it.