The National Directorate of Employment (NDE) has disbursed N14.6 million in agricultural loans to 136 youths in Akwa Ibom within the last five months.

On Monday, NDE’s director-general Abubakar Fikpo disclosed this in Uyo during the second phase of agricultural loans disbursement orientation.

Mr Fikpo, represented by a senior official of the NDE, Edem Duke, said beneficiaries were entitled to N100,000 each at a nine per cent interest rate.

He explained that the beneficiaries were captured under the Agricultural Enhancement Scheme (AES) and Community-Based Agricultural Empowerment Scheme (CBAES).

He added they were also under the Graduate Agricultural Empowerment Scheme (GAES) and Sustainable Agricultural Development and Empowerment Scheme (SADES).

Mr Fikpo announced that a six months’ moratorium was given, after which beneficiaries were expected to repay the loan in instalments over three years.

“They are expected to repay this loan in three years at nine per cent interest. The amount was disbursed between December last year and now,” stated the NDE boss. “The emphasis is on agriculture because it is the mainstay of the economy. We are trying to arouse the interest of our youths to go into agriculture and its value chain. The first batch of recipients was empowered last year December.”

He noted that the NDE under President Muhammadu Buhari had performed “very well” because financial allocations came on time.

“That’s why we are able to carry this big load that we are carrying,” he said.

(NAN)