NDE disburses over eight million naira to 235 businesses in Bayelsa

National Directorate of Employment (NDE) has under its small scale Enterprises Department, disbursed the sum of N8,060,000 to 235 small scale business owners, spread across the Eight Local Government Areas of Bayelsa state.

Director-General of NDE, Mr Nuhu Fikpo said this at the opening of the training of small scale business owners in Yenagoa, on Tuesday. Mr Fikpo was represented by the Bayelsa State Coordinator, Mr Aham Osuchukwu at the ceremony.

The Trumpet reports that the businesses are divided into two:  the Start Your Own Business (SYOB) and the Micro-Enterprise Enhancement Scheme (MEES).

Fikpo explained that the SYOB had seven beneficiaries who are all graduates of tertiary institutions, wrote feasibility studies reports on their various businesses and were seen to be viable.

He said each of these got a loan of N500,000 which would enable them to set up their businesses.

“The remaining 228 beneficiaries who got N20,000 each were selected under the Micro-Enterprise Enhancement Scheme to boost their existing micro-businesses”, he said

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These include businesses such as tomato, vegetable, plantain roasting, mobile food, snacks, cobblers, and fruit selling amongst others.

He said one of the core mandates of the NDE was the implementation and design of programmes to combat mass unemployment and poverty reduction in the society.

The Director General informed them that their individual bank accounts had been credited with the sum of money due them and urged them to make effective and efficient use of the loans.

He said the loan had an interest rate of nine percent simple interest, and a moratorium period of six months.

One of the beneficiaries, Miss Ayibalayefa Jones, was full of gratitude to the management of NDE. She pledged that she would make effective use of the facility granted her.