NDE commences N2.4m loan disbursement to 74 beneficiaries in Adamawa

From Umar Dankano, Yola

The National Directorate of Employment,NDE, has commenced the disbursement of N2,480,000 loan facility to 74 beneficiaries in Adamawa state.
Director General of the Directorate, Mal. Abubakar Nuhu Fikpo charged the beneficiaries to make judicious use of the monies with a view to developing their businesses and to reduce poverty in the societies.
Represented by the state Coordinator, Mal. Mohammad Jimada Ibrahim at the ceremony in Yola Thursday, Fikpo said the orientation and loan disbursement was meant to support trainees of Start Your Business (SYOB) and Micro Enterprise Enhancement Scheme (MEES) schemes for development of their businesses.
Jimada urge the beneficiaries with the training gotten under the small scale enterprise department of the Directorate to ensure prudent financial management of the loan.
He explained that SYOB is a scheme under SSE to give beneficiaries the opportunity to identify business venture, business plan and how to run it effectively while MEES is a scheme design for those (beneficiaries) with poor business background so as to improve their own ventures.
“The two schemes are designed to develop personal business enhancement for more development.
“ So, please use the loans judiciously with a view to grow your businesses for employment creation and reducing of poverty in the societies.
“Once more again, know that the money is a loan facility not a grant and is repayable at the stipulated duration”.Jimada added.
In their sperate addresses at the occasion,Head of departments for Small Scale Enterprise and Vocational Skills Development,Mrs Na’amar Jonah and Nuhu Bello charged the beneficiaries to apply the knowledge they acquired through various trainings from the Directorate positively.
Our Correspondent reported that the 3 beneficiaries under SYOB category will process N500,000 loan facility while the 71 beneficiaries under MEES category will access N20,000 each with moratorium period of six (6) months repayable in 3 years respectively.