Bayelsa Times

NDE disburses soft loan to 235 small scale business men, women in Bayelsa

Nationwide News Niger Delta
Peace Tamuno, Yenagoa.
The  National Directorate of Employment (NDE) though it’s Small Scale B Department, has  disbursed the sum of N8,060,000 to 235 small scale businesses  across the eight local government areas of Bayelsa.
Director-General of NDE,  Nuhu Fikpo, stated this on Tuesday in Yenagoa.
The director-general who was represented by the Bayelsa Coordinator of NDE, Mr Aham Osuchukwu, said that the SYOB has seven beneficiaries who were  all graduates of tertiary institutions.
Fikpo said that the seven of them  wrote feasibility studies report on their various businesses.
According to him, each of them got a loan of N500,000 only. This is to enable them set up their businesses.
He said that the  remaining 228 beneficiaries who got N20,000 each, were selected under the Micro Enterprise Enhancement Scheme of the state government to boost their existing micro businesses such as tomato, vegetable, plantain roasting mobile food, snacks, cobblers, fruit selling amongst others businesses.
Fikpo also said that one of the core mandates of the NDE is the implementation and design of programmes to combat mass unemployment and poverty reduction in the society.
He confirmed that their individual bank accounts had been credited with the amount of money due them and urged them to make effective and efficient use of the loans.
The director-general said that the loan has an interest rate of nine per cent simple interest and a moratorium period of six months.
Responding on behalf of the beneficiaries,  Ayibalayefa Jones who,was full of gratitude, commended NDE for the gesture.
She assured NDE that they would make effective use of the facility granted, especially when they had to pay back.

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