The National Directorate of Employment (NDE) has given revolving loans to 102 micro-business owners in Bayelsa State totalling N2.36 million.
Speaking at the disbursement ceremony in Yenagoa on Friday, the Director General of NDE, Abubakar Nuhu Fikpo, explained that 98 businesses under the Micro Enterprise Enhancement Scheme (MEES) will obtain a loan of N20,000 each, while the remaining four businesses will obtain N100,000, under the Basic Business Training Scheme as part of its mandate of job creation and alleviating hardship.
The DG, who was represented by the Bayelsa State Coordinator of NDE, Mr Aham Osuchukwu, said the loan has a moratorium period of three months and the repayment has been stretched to favour the beneficiaries.
He urged the beneficiaries to invest the loan in their micro-businesses and from the returns gradually repay the loan.
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He informed them that repaying the loan would qualify them for larger tranches of loan in the future.
According to him, evidence abounds of beneficiaries who started like them but have grown and attracted loans of N500,000 from the NDE.
Also speaking, Mrs Ayibabebara Jonathan, a beneficiary, commended the NDE, assuring that they would repay their loans as agreed and hope to be granted bigger tranches to expand their businesses in future.
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