Friday, July 10, 2026

FG disburses loans to 102 micro businesses in Bayelsa

Mr Fikpo said paying the loan would qualify them for larger tranches in the future.

• March 8, 2024
NDE beneficiaries (Credit: Independent)
NDE beneficiaries (Credit: Independent)

On Friday, the National Directorate of Employment (NDE) disbursed N2.36 million in loans to 102 microbusinesses of various types in Bayelsa.

The director-general of the NDE, Abubakar Nuhu Fikpo, said at the ceremony in Yenagoa that 98 beneficiaries under the Micro Enterprise Enhancement Scheme (MEES) would earn N20,000 each.

Mr Fikpo said the remaining four businesses under the Basic Business Training Scheme would get N100,000 each.

Represented by Aham Osuchukwu, the Bayelsa coordinator, the DG said the loan had a moratorium period of three months and that the repayment had been stretched to favour the beneficiaries.

He urged them to invest the loan in their microbusinesses and, from the returns, gradually repay the loan.

Mr Fikpo said paying the loan would qualify them for larger tranches in the future.

According to him, there is evidence of beneficiaries who started with low grants but have grown and attracted loans of N500,000 from the NDE.

Ayibabebara Jonathan, a beneficiary, thanked the DG and assured that they would repay their loans as agreed and hope to be granted bigger tranches to expand their businesses.

(NAN)

We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.

More from Peoples Gazette

farmers

Agriculture

FG tasks ECOWAS on leveraging financing strategies for agroecology

The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices

Katsina State

Politics

Katsina youths pledge to deliver over 2 million votes to Atiku

“Katsina State is Atiku’s political base because it is his second home.”

Kidnapped Oyo schoolchildren, teachers regain freedom after about two months in captivity

Ibadan

Kidnapped Oyo schoolchildren, teachers regain freedom after about two months in captivity

The release of the victims followed a series of sustained protests over the prolonged captivity of the victims.

fertiliser

Agriculture

Plateau govt. procures 500 truckloads of fertiliser for sale at subsidised rate

The governor directed that fertiliser be sold to farmers at a subsidised rate of N20,000 per bag.

Federal Competition and Consumer Protection Commission (FCCPC)

Economy

Court clears FCCPC to investigate air ticket pricing complaints

Mr Bello said investigating consumer complaints was fundamentally different from regulating prices.

States

National Cash Transfer: 1,908 vulnerable residents receive debit cards in Edo

The initiative is in collaboration with the Federal Ministry of Humanitarian Affairs and Poverty Reduction, the World Bank, and the National Cash Transfer Office.

Africa

Rwanda spent $32 million on fuel subsidies in four months: Minister

He said the subsidies were to shield consumers and businesses from surging oil prices triggered by the conflict in the Middle East.

Heading 3

FG to integrate 80 million Nigerian students into NIMC database

He said the ministry had integrated the National Learners’ Identification Number (LIN) with the NIN through the Nigeria Education Management Information System (NEMIS).