Agribusiness: NDE Disburses N4.2m Loans to 42 Unemployed in Kogi

By Friday Idachaba, Lokoja.

As part of efforts to promote Agribusiness and curb unemployment, the National Directorate of Employment (NDE), has disbursed N4.2 million to 42 unemployed persons in Kogi as loans to embark on productive Agro-based businesses.

Mallam Abubakar Nuhu Fikpo, Director General of NDE, who disclosed this while speaking at the disbursement ceremony, on Wednesday in Lokoja said each of the 42 beneficiaries got the sum of N100,000.

The Director General, represented by Kogi State Coordinator of the Directorate, Mallam Abubakar Zakari, said that the gesture was aimed at making the beneficiaries economically self-reliant.

He said that the gesture covered four schemes under the Directorate’s Rural Employment Promotion Programme.

The schemes according to him, include Agricultural Enhancement, Sustainable Agricultural Development, Community-Based Agricultural Empowerment and Graduate Agricultural Empowerment.

Mallam Fikpo reiterated Federal Government’s commitment to eradicating poverty and assured that the President Muhammadu Buhari’s administration remained determined to lift over 100 million Nigerians out of hunger and disease.

According to him, Agriculture is the mainstay of the nation’s economy as well as the only sector that will help tackle the alarming unemployment situation in Nigeria.

Mrs Beatrice Oruoyehu, a Deputy Director from NDE headquarters, Abuja and facilitator of the programme, presented offer letters to the 42 beneficiaries.

She charged them to see the loans as seed that would enable them grow in their businesses if invested well and managed wisely.

“Plant this money into any agribusiness of your choice and it will germinate and blossom”, she advised.

Representative the Head of Department, Mallam Shaibu Omeiza in his charge to the beneficiaries reminded them of their responsibility to repay the loan on time.

He said that the loan had a three-year duration at nine per cent (9%) interest, with six months moratorium. (Ends).