Lawan Yaya, the Bauchi coordinator of the National Directorate of Employment (NDE), announced on Saturday in Bauchi that the Nigerian federal government is aiding unemployed individuals in becoming employers of labor. Yaya shared this information during an interview with the News Agency of Nigeria (NAN).
He mentioned that a portion of the recipients of the NDE’s initiatives are unemployed youths, as the federal government is actively prioritizing measures to assist them in attaining self-employment or similar opportunities.
“After completing an entrepreneurship training program organized by the NDE, 40 out of 100 beneficiaries were granted loan packages ranging from N250,000 to N500,000. These individuals have since established thriving businesses.
“In the field of agriculture, the Rural Employment Promotion Department of the NDE recently provided training to 93 participants who were each given N100,000 as loan packages. Some of them ventured into livestock farming, while others focused on crop production and various aspects of the agricultural value chain. As a result, they have already started employing workers and have become employers themselves,” stated Mr. Yaya.
He further highlighted that a group of beneficiaries who received N60,000 each under the Extended Special Public Works program formed a cooperative society, pooling their resources to purchase cows. After three months, they sold the cows and used the profit as seed capital to launch small businesses in their communities.
Mr. Yaya emphasized the significant impact that the federal government has made in addressing unemployment challenges in the country. He cited success stories from the Industrial Training Fund, where young entrepreneurs who received loans have already become employers of labor.
The Bauchi coordinator also acknowledged the support provided by the Nirsal Microfinance Bank of the CBN in assisting unemployed youths in establishing their own businesses. Additionally, the Bank of Agriculture has been a collaborative partner in linking NDE trainees with access to loans.
Mr. Yaya encouraged the beneficiaries of these government interventions to maximize the opportunities provided to them. For more information on CBN loans, you can refer to the provided link.”
You can find out more about CBN loan here.