The National Directorate of Employment (NDE) has granted loans totaling N1.48 million to 74 micro businesses in Bayelsa State.
The agency’s Director General, Malam Abubakar Nuhu Fikpo, stated that the funds when injected into their businesses would give them a big boost towards expanding those businesses.
He encouraged the beneficiaries for the doggedness they have displayed in the micro businesses.
Represented by Aham Osuchukwu, the Bayelsa Coordinator, NDE, Fikpo said that the loans attracts a repayment period of less than one year, urging them to repay so that others would equally benefit.
Fikpo said a monitoring team would be visiting beneficiaries from time to time to assess their progress and recommend any of them that repays accordingly for a bigger loan package.
He assured the beneficiaries that the NDE has the capacity to pull them from Micro Enterprises to big businesses where they would become major players in their various business areas.
According to him, the loan package, in obedience to the cashless policy of the Federal government and to inculcate the banking culture into them, would be paid through their individual bank accounts.
On his part, the Head of Department, Small Scale Enterprises in Bayelsa, Probin Abbey, in his closing remarks, gave the beneficiaries instances of those that had benefited from the NDE in the past.
He said those that repaid their loans were granted large loans to boast their businesses and urged them not to disappoint themselves by not paying up.
One of the beneficiaries, Doris Okorobeki, expressed gratitude to the DG and his management team and on behalf of others pledged their total commitment towards utilizing the opportunities granted them.