Unemployed Graduates Get N2.8m NDE Loan

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The National Directorate of Employment (NDE) says it has disbursed N2.8 million to four unemployed graduates in Cross River under its Enterprise Creation Fund for Small Scale Enterprise (SSE).

Mr. Edem Duke, the Coordinator of the directorate in the state, disclosed this in an interview with the News Agency of Nigeria (NAN) in Calabar.

He said that the loan was to enable the beneficiaries to start their own businesses, adding that each of them received N700, 000.

Duke explained that the beneficiaries qualified for the loan based on the feasibility studies of businesses they presented, “and which earned them some training by the directorate.”

“We expect that the young graduates will use the money to set up their businesses, run them prudently in line with the training we gave to them under our ‘Start Your Own Business’ programme and pay back the money on time,” he added.

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Duke said that the beneficiaries were given moratorium of six months on the loan repayment, adding that they were expected to complete the repayment in two years.

He also said that 100 unemployed youths in the state were undergoing training under the directorate’s School-on-Wheels scheme at Sankwala in Obanliku Local Government Area.

He disclosed that the training, which was targeted at unemployed rural youths, would be for a period of three months and centred on hair dressing, fashion designing, carpentry, electrical installation, welding and metal fabrication.

Duke disclosed that all the 100 youths in the programme were from Obanliku and explained that the request for the directorate to train them was made by the local government’s council.

The coordinator said that Abi and Ikom councils, respectively, had made formal requests to the directorate for such training and appealed to other councils in the state to take advantage of the scheme.

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