NDE distributes soft loans to 74 micro-businesses in Bauchi

ABOUT 74 micro businesses owners in Bauchi state have received the sum of N1.4m as soft loans from the National Directorate of Employment (NDE) to boost their income.

The disclosure was made by the Bauchi State Coordinator of NDE, Lawan Yaya on Thursday during the disbursement of the loans to the beneficiaries held at the NDE office.

While disbursing the loans, he said that the exercise was carried out under the NDE’s Micro Enterprises Enhancement Scheme (MEES).

According to him, the Director General of NDE, Malam Nuhu Fikpo thought it wise to improve on the existing micro and small businesses of industrious Nigerians and came up with the initiative.

Lawan Yaya also explained that the beneficiaries had at a point in time undergone basic business training under the Small Scale Enterprise Department of the Directorate in the state.

He explained that, “The sum of N20,000 was given to each of the 74 beneficiaries to further improve and expand on their existing businesses.”

The NDE State Coordinator said that, “They have a moratorium period of six months before starting repayment of the loan and this repayment would be based on the nature of their businesses.”

“All of the beneficiaries have a period of three years of repayment of the loan,” he said.

He however urged the beneficiaries to utilize the money judiciously for the purpose it was meant for stressing that the aim is to make them employment generators to others through their businesses.

Lawan Yaya assured that the NDE will closely monitor the beneficiaries by regularly visiting their business outlets to ensure that things are moving smoothly.