The National Directorate of Employment (NDE) has commenced disbursement of N11.5 million loans to 238 selected petty traders, graduates and retirees to support their businesses in Borno State.
Speaking during the disbursement of loans Wednesday in Maiduguri, State Coordinator of NDE in Borno, Zakari Kashim, said the loan is a revolving fund to support three categories of beneficiaries including the Micro Enterprise Enhancement Scheme, Start Your Own Business and Mature People Programme expected to repay the loans so other citizens also benefit.
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The NDE Head of Small-scale Enterprises Unit, Malam Usman Maidugu, disclosed that the traders were selected from the Monday market, Gamboru market, Mairi market, Biu and Kwaya Kusar markets, adding that each of the beneficiaries under the micro enterprise scheme will receive N20,000.
He added that the graduates under the ‘Start your own business’ will get N500,000 each while the beneficiaries of the mature programme will receive N1.5m each.