The National Directorate of Employment (NDE), says it has disbursed the sum of N1.4 million to 74 micro business owners as loans in Bauchi State.
The Bauchi State Coordinator of NDE, Lawan Yaya stated this in Bauchi on Thursday during the disbursement of the loans to the beneficiaries.
He said that the exercise was carried out under the NDE’s Micro Enterprises Enhancement Scheme (MEES).
According to him, the Director General of NDE, Malam Nuhu Fikpo thought it wise to improve on the existing micro and small businesses of industrious Nigerians and came up with the initiative.
Yaya, however, explained that the beneficiaries had at a point in time undergone basic business training under the Small Scale Enterprise Department of the Directorate in the state.
“The sum of N20,000 was given to each of the 74 beneficiaries to further improve on their existing businesses.
“They have a moratorium period of six months before starting repayment of the loan and this repayment would be based on the nature of their businesses.
“All of the beneficiaries have a period of three years of repayment of the loan,” he said.
The NDE boss, however, urged the beneficiaries to utilise the money judiciously for the purpose it was meant for.
One of the beneficiaries who spoke on behalf of all, Sunusi Mohammad, appreciated the federal government and the NDE for the ‘kind’ gesture and promised to make effective use of the money.
