A total of N1,480,000 was on Wednesday disbursed to 74 petty traders in Delta State by the National Directorate of Employment.
The Director-General of the NDE, Mallam Abubakar Fikpo, urged the beneficiaries to pay back the loans within the repayment period to enable others to benefit.
Fikpo stated that the Micro Enterprise Enhancement Scheme was specifically designed for unemployed persons who want to establish micro businesses such as frying ‘akara’ among others.
He said, “It is indeed a privilege for me to address you on this occasion of disbursement of loan under the MEES of the NDE. The loan is for petty traders such as people who are frying ‘akara’, roasting yam/plantain, making ‘akamu’, etc.
“Today, the Directorate is disbursing the sum of N20,000 loan to each of the unemployed persons that have registered with the NDE in the state at an interest rate of nine per cent.
“The total money disbursed is N1,480,000 to 74 persons to enable them set up and run their own micro businesses in the state.”
Fikpo urged the beneficiaries to use the loan judiciously for the purpose it was meant for, appealing to them to pay back within the period of one year with three months moratorium.
In his remark, the Delta State Coordinator of the NDE, Mr Sylvanus Onyeogo, thanked the NDE management for approving the disbursement of the loan in the state.
He said the main objective of the scheme was to empower unemployed persons with soft loans to enable them establish micro businesses that required low capital outlay.
Speaking on behalf of the beneficiaries, Mrs Pauline Ezeana thanked the NDE for considering them for the loan, assuring the Directorate of timely repayment.