The Federal Government has spent N750 million on empowerment of 6,800 women and youths in Ondo State.
Dr Nasir Mohammed Argungu, Director General, National Directorate of Employment (NDE), made the disclosure in Akure during the empowerment of some women and youths in the state.
He explained that 6,800 unemployed women and youths were empowered initially, but due to the zeal displayed, the figure would be increased to 10,000.
”For a start, 300 of them are going to enjoy micro enhancement loan of N10,000 direct cash disbursement.
”Other 1500 young men and women will be trained in various trades, while 5,000 will have certificates for easy access to Central Bank of Nigeria (CBN) loan.
”The loan alone is N750 million, but if everything is added together, we are targeting N850 million for Ondo state,” he said.
The director general advised the beneficiaries to utilise the loans judiciously, saying that the government would do more.
Earlier, Gov. Oluwarotimi Akeredolu, said most of the people empowered did not have a startup capital to run their trades, hence the importance of the loan.
He implored the beneficiaries to use the funds judiciously and for the purpose of trades.
Akeredolu explained that certificates would be issued to the beneficiaries for easy access to the loan from the CBN.
He said the loan, ranging from thousands to N10 million would be collateral and interest free.
Mrs Onome Joy, a beneficiary of the loan, commended the Federal Government’s intervention, which she said would go a long way in ameliorating the plights of the people.
She promised to tell others about the reality of the programme, and mobilise family members to vote for the re-election of President Muhammadu Buhari in the forthcoming general election.
Joy further gave assurance that the fund given to them would be invested in profitable businesses.