FG begins disbursement of N250,000 NDE Loan- See how to Apply below.
GolddenNewsNg reports that through the National Directorate of Employment, the federal government is assisting unemployed Nigerians in their efforts to become employers of labor (NDE).
According to Lawan Yaya, the NDE’s Bauchi coordinator, the revelation was made in Bauchi on Saturday during an interview with the News Agency of Nigeria (NAN).
He stated that some of the benefits of NDE were
According to the Federal Government, “the federal government is significantly focused on unemployed adolescents by rolling out several interventions to at the very least make them self-employed.”
According to the results of a recent NDE entrepreneurship workshop, 40 out of 100 participants received loan packages ranging from N250,000 to N500,000, and they are now engaged in real enterprises.
‘In agriculture, the Rural Employment Promotion Department of the National Development Agency recently educated 93 participants who were each granted a loan package of N100,000,” says the official.
In addition, “some of them purchased cows, while others are engaged in crop production; others are engaged in the agriculture value chain; some have even employed some hands and have already become employers of labor,” Mr Yaya explained.
He went on to say that some of the recipients who earned N60,000 each as part of the government’s Extended Special Public Works program banded together to form a cooperative society and pooled their resources to purchase cows.
They slaughtered the cows after three months and harvested larger seed as a result, he explained.
They used the money to launch a variety of small enterprises in local towns.
It is clear that the federal government is having a significant impact on the country’s unemployment problem.
According to him, “I’m saying this because the Industrial Training Fund welcomed me to their program, and we’ve met young entrepreneurs who were given loans and have already established themselves as employers of labor.”
Mr Yaya cited the Nirsal Microfinance Bank of the Central Bank of Nigeria as another institution that is assisting unemployed youngsters in their quest to become employers of labor.
In terms of the Bank of Agriculture, they are also a partner in the advancement of the country.
“Some NDE trainees who were unable to obtain loans through the directorate were paired with a bank, and they are now able to obtain loans from that institution,” he explained.
He exhorted those who had benefited from various federal government interventions to make the most of the chances that had been provided to them.
Requirement for NDE Loan
- Interested applicant must have been trained by an Entrepreneur Development Institute (EDI)
- Interested applicant will apply for loan via an EDI
- The applications will then be sent to CBN for processing
- Applicants will be called for an interview regarding his/her business.
- Those qualified will be contacted and given the loan