NDE-FCT Flag off Disbursement Of 4 Loan Schemes To Combat Unemployment In Nigeria

NDE-FCT Flag off Disbursement Of 4 Loan Schemes To Combat Unemployment In Nigeria

By Otobong Gabriel

The Rural Employment Promotion (REP) department of the National Directorate of Employment (NDE), Federal Capital Territory has flagged off the disbursement of N100,000 loans under 4 REP loan schemes to 42 beneficiaries selected across FCT to help the unemployed set up small scale businesses that will enable them to be economic reliant and in long run become employers of labour.

The Director General of the NDE Mallam Abubakar Nuhu Fikpo who was represented by the FCT NDE State Coordinator Mr. Chimereze Noble charged beneficiaries to make good use of the money accordingly in order to achieve the desired objective of employment generation, wealth creation and eradication of poverty.

Fikpo who gave the breakdown of the REP loan schemes said the loan was under 4 categories; Agricultural Empowerment Scheme ( AES) which has 9 beneficiaries, Graduate Agricultural Empowerment Scheme ( GAES) 11,  Community Based Agricultural Empowerment Scheme ( CBAES) 7 while the Sustainable Agricultural Development Empowerment Scheme ( SADES) has 15 beneficiaries making a total of 42 lucky beneficiaries.

While urging them to see this gesture as a life changing opportunity, he reminded them that the loan should be paid back as at when due so that those who were not opportune to be enlisted in the first batch will have the opportunity to be empowered in the second phase of the loan disbursement. 

Also speaking, the representative of the Director of Rural Employment Promotion, Mrs Folashade Uche said the REP loan schemes are very flexible with 6 months moratorium and just 9 percent interest rate payable in 3 years and urged beneficiaries to be prudent in the management of the loan so that the objective of the program will not be jeopardized.

In the same vain the Head of Department, REP, Mr. Chukwuma Jinwa said the beneficiaries are expected upon the expiration of the 6months moratorium given to them to start paying at least N3,000 per month to be able to pay back the loan with ease within the stipulated period of 3 years given to them and urged them to put the money to good use to maximize profit, create wealth and employment for others.

Appreciating the NDE, one of the beneficiaries, Bello Mudasir thanked the management of NDE for the opportunity given them to be part of the beneficiaries and promised to invest the money wisely in the right business so as to be able to pay back within the stipulated period of time while also growing their business to create wealth and employment opportunities to others.