New Telegraph

Employment: MSME’s have gulped N100bn since 2017 – FG

The Federal Government has said about N100 billion has been disbursed through the Development Bank of Nigeria to facilitate Small and Medium Enterprises (MSMEs) in the country since 2017.

Minister of State for Labour and Employment, Mr Festus Keyamo, who made the disclosure, while flagging off disbursement of empowerment items to women in Jos, Plateau State, revealed that the disbursement was part of government’s efforts to tackle the issue of unemployment by helping to create jobs, especially for women and the youths

Represented by the Director General of the National Directorate of Employment (NDE), Mallam Abubakar Fikpo, he raised concerns that unemployment was one of the remote causes of banditry, terrorism, corruption and other forms of criminality in the country.

He said: “Even though the Federal Government is working hard at checkmating terrorism and all other forms of criminality and violent crimes, it is equally prosecuting the war against mass unemployment.

“The Federal Government has put all plans in place to ensure that businesses succeed in Nigeria The present administration has launched a series of funding and capacity development initiatives designed to support Micro, Small and Medium Enterprises (MSMEs).

“Since 2017, the Development Bank of Nigeria has disbursed a total of N100 billion through the bank’s 27 Participating Financial Institutions (PFIs), thereby impacting more than 100,000 MSMEs. It is heart-warming to note that 52% of loans disbursed in 2019 and 2020 were to youths and women owned businesses.”

Speaking in his capacity as Director General of NDE, Fikpo revealed that the empowerment programme targeting 425 women in the state, was designed to assist the beneficiaries and trainees acquire relevant and marketable skills that would galvanize them into starting their own businesses.

While noting that each beneficiary would receive a loan package ranging from N100, 000 to N150, 000 to kick start their own businesses depending on their choice of skill, he added that NDE through efforts of the Minister for Women Affairs, was able to carry out pilot phase of the programme in the eight selected states of Taraba, Plateau, Nasarawa, Kano, Katsina, Delta, Enugu and Ogun.

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