The National Directorate of Employment (NDE) has commenced the disbursement of soft loans to petty traders, comprising youths and women in Akwa Ibom.

The coordinator of NDE in the state, Obegolu Obiora, said on Wednesday during the orientation and loan disbursement exercise that the loans would be refunded after the three-month moratorium to allow others to benefit.

Under the Micro Enterprise Enhancement Scheme (MEES), the soft loan will be given to 74 beneficiaries at N20,000 each, totalling N1,480,000.

Mr Obiora commended the federal government for the initiative, adding that the funds were given to only those already in business to help strengthen its financial flows, which would lead to business expansion and job creation.

He said the director-general of NDE, Abubakar Fikpo, had assured of continuous implementation of the laudable empowerment programmes that would help raise the country’s employment index.

“The director-general has reiterated the directorate’s commitment to its mandate through the implementation of empowerment programmes aimed at generating jobs, creating wealth and enhancing capacity building for unemployed persons.

“This move will boost the economy through access to finance for petty traders and other small business owners and enhance the operational capacity of existing micro-enterprise owners to expand their businesses and, in turn, improve their earnings.

“The director-general declared that 74 youths and women-beneficiaries will go home with N20,000 each, totalling 1,480,000, and further advised them to make judicious use of the fund to expand their businesses,” he said.

One of the beneficiaries, Abasifreke Handson, thanked the federal government for the loan, saying the fund would help boost her perfume and bag-making business.

Another beneficiary, Kenneth Bassey, also commended NDE and the federal government for their efforts at tackling unemployment in the country.

(NAN)