FG disburses N1.4m loans to 74 beneficiaries in Ondo

The National Directorate of Employment (NDE) has disbursed N1,480,000 as loans to 74 beneficiaries of its 2022/2023 Micro Enterprise Enhancement Scheme (MEES) in Ondo State.

According to the News Agency of Nigeria, while disbursing the money on Tuesday in Akure, Olusegun Adelodun, NDE State Coordinator, explained that the beneficiaries were drawn from the 18 local government areas of the state.

Adelodun said that one of the strategies adopted by NDE for job creation was promoting Small Scale Enterprises, noting that Small Scale Enterprises play pivotal roles in developing countries’ economic growth and national development.

He explained that the Micro Enterprise Enhancement Scheme (MEES) was essentially designed to enhance the operational capacity of existing micro-enterprises as a means of wealth creation.

The NDE state coordinator said that the beneficiaries, who were operators of existing micro-enterprises, received a micro-loan package to expand their businesses and improve their earnings.

“On behalf of the Director General of the NDE, Mallam Abubakar Nuhu Fikpo, we are essentially gathered here today to disburse a loan package of N20,000 each to 74 beneficiaries of MEES.

“It is crucial to state that this loan package is expected to be paid back with interest according to the agreement forms filled and submitted by the beneficiaries. The loan repayment is expected to start after the stipulated months of a moratorium,” he said.

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