The National Directorate of Employment (NDE) has taken a step towards reducing unemployment in Kano State by disbursing a total sum of N1.9 million as a soft loan to 19 beneficiaries under the 2023 Sustainable Development and Empowerment (SADE) Schemes.
The fund distribution, carried out on Wednesday in Kano, falls under the Rural Employment Promotion (REP) Department of the NDE. The aim of this program is to tackle the increasing unemployment rate in Nigeria.
Malam Abubakar Fikpo, the Director-General of NDE, emphasized that the program focuses on training unemployed youth in various aspects of the agricultural value chain, including production, storage, processing, preservation, and packaging.
The 19 beneficiaries were selected from a group of REP-trained individuals across 12 states. A total of N22.8 million will be shared among 228 individuals from these states to enable them to establish and manage small-scale agricultural enterprises.
Fikpo expressed his belief that the soft loan would encouraged them to utilize the opportunity effectively and repay the loan within the stipulated timeframe, emphasizing that their success would pave the way for other unemployed youth to benefit from similar schemes.
Mr. Emem Duke, the Director of REP, explained that the loan initiative was designed to empower the beneficiaries, enabling them to establish their own businesses and become self-reliant.
During the event, which aimed to sensitize the beneficiaries about the proper utilization of the loans, a Deputy Director of NDE, Joshua Fagbemi, represented Malam Abubakar Fikpo said the loans will be disbursed to the beneficiaries through banks.
In response to the gesture, some of the beneficiaries expressed their gratitude to NDE for the opportunity and assured that they would utilize the funds for the intended purpose.