FG spends N750m to empower 6,800 women, youths in Ondo
Ondo State Governor, Arakunrin Oluwarotimi Akeredolu, SAN, on Friday counselled the beneficiaries of the Federal Government Empowerment Programme under the National Directorate of Employment, NDE. The agency revealed that N750 million was expended on loans as empowerment for 6800 women and youths in Ondo State.
Dr Nasir Mohammed Argungu, Director General (DG), National Directorate of Employment (NDE), made the revelation in Akure during the empowerment of 6800 women and youths in the State.
He explained that 6800 unemployed women and youths were empowered initially, but due to the zeal displayed, the figure would be increased to 10,000.
“For a start, 300 of them are going to enjoy micro enhancement loan of N10,000 direct cash disbursement.
“Other 1500 young men and women will be trained in various trades while 5000 will have certificates for easy access to Central Bank of Nigeria (CBN) loan.
“The loan alone is N750 million, but if every thing is added together, we are targeting N850 million for Ondo State, ” he said.
The DG further advised the beneficiaries to utilise the loans judiciously, and promised to do more.
Goveenor Oluwarotimi Akeredolu said most of the people empowered did not have a startup capital to run their trades, hence the importance of the loan.
He implored the beneficiaries to use the funds judiciously in order to profit from their trades.
Akeredolu explained that certificates would be issued to the beneficiaries for easy access to the loan from the CBN.
He said the loan, ranging from zero to N10 million would be collateral and interest free.
Mrs Onome Joy, a beneficiary of the empowerment loan, commended the Federal Government’s intervention which she said, would go a long way in ameliorating the plights of the people.
She promised to tell others about the reality of the programme, and mobilise family members to vote for the re-election of President Muhammadu Buhari in the forthcoming general election.
Joy further assured that the funds given them would be invested in profitable businesses.