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₦250,000 FG Loan by NDE Begins

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₦250,000 FG Loan by NDE Begins

The federal government is helping unemployed Nigerians become employers of labour through the National Directorate of Employment (NDE).

Bauchi coordinator of the NDE, Lawan Yaya, made the declaration in Bauchi on Saturday when he spoke with the News Agency of Nigeria (NAN).

He said some of the beneficiaries of NDE.

“The federal government is seriously focusing on unemployed youths by rolling out different interventions to make them self-employed, at the very least.

“At the end of a recent NDE training on entrepreneurship, 40 beneficiaries out of 100 got loan packages ranging between N250,000 and N500,000 and they are now in serious businesses.

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“In agriculture, the Rural Employment Promotion Department of the NDE recently trained 93 participants who were given N100,000 each as loan packages.

“Some of them bought cows, while some are into crop production; some are into agriculture value chain and they have even employed some hands and became employers of labour already,’’ Mr Yaya said.

He added that some of the beneficiaries who received N60,000 each under its Extended Special Public Works, grouped themselves into a cooperative society and pulled resources together to buy cows.

He explained that after three months, they slaughtered the cows and got bigger seed

capital to start various small businesses in their communities.

“The federal government is really making a serious impact in addressing unemployment issues in the country.

“I am saying this because the Industrial Training Fund had invited me to their programme and we have seen young entrepreneurs that were given loans and have already become employers of labour,’’ he said.

Mr Yaya identified Nirsal Microfinance Bank of the CBN as another outfit helping and assisting unemployed youths to become employers of labour.

“If you look at the Bank of Agriculture, they are also our partner in progress.

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“Some NDE trainees who could not get loans from the directorate were linked with the bank and they are accessing loans from there,’’ he said.

He advised beneficiaries of the different federal government interventions to optimise opportunities given to them.

The National Directorate of Employment (NDE) was established in November 1986. It began operations fully in January 1987.

The birth of the directorate was predicated on the effects of the economic recession of the 80which led to a drastic reduction in capital utilization and consequence outright closure of industry in Nigeria.

Equally, others macro-economic policies of the government of the day such as structural adjustment programme (SAP),

devaluation of the naira, privatization and commercialization of the economy, etc,resulted to massive job losses in both the public and private sectors of the economy.

According to the Annual Report of the NDE 2013, unemployment rate had risen from 4.3% in 1985to 7.0%at the beginning of 1987 because of the situation earlier stated

As a direct response to the rising trend of unemployment, the then military government headed by General Ibrahim B. Babangida, set up a committee headed by Mr, Stephen O. Chukwumah which was later to be popular known as the chukwumah committee.

The committee was charge with the task of proffering a sustainable intervention solution to mitigate the rising levels of unemployment in Nigeria.

The committee established that the informal sector of the national mainly low skilled, semi-skilled and or unskilled. This group also constitute about 90% of the workforce within the sector.

This situation therefore, placed skills acquisition/training on the front burner in respect of employment creation.

Following the report of the Chukwumah committee, the federal Government established the NDE under decree No. 29 of the 1989 which was replaced with ACT,CAP 250 of the law of the Federal Republic of Nigeria 1999.

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