The Minister of State for Labor and Employment, Festus Keyamo, says the Federal Government has disbursed N100 billion for the last five years to unemployed youths and small businesses.
The minister revealed this at an empowerment programme held in Jos on Sunday September 19.
He was represented by the Director-General of the National Directorate of Employment (NDE), Abubakar Fikpo.
He said; “You will all agree with me that unemployment is one of the remote causes of banditry, terrorism, corruption and other forms of criminality.
“Even though the Federal Government is working hard at check terrorism and all other forms of criminality and violent crimes, it is equally prosecuting the war against mass unemployment.
“I am proud that the National Directorate of Employment (NDE), whose board I am privileged to chair and also directly supervise, is effectively leading that war against mass unemployment.
“Let me inform you all that 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.
Keyamo also stated that 52 percent of the loans which were disbursed in 2019 and 2020 were to youths and women-owned businesses.
He stressed that the goal of the government was to provide the women owned business with quick income-generating opportunities because of their roles in providing support for their families.
He said: “I am proud to inform you that the Women Employment Branch (WEB) of the Small Scale Enterprises Department of the NDE is responsible for driving initiatives aimed at providing ample opportunities for women with the entire framework of our employment creation processes.
“Our objective in empowering women is clear. We create employment for women to improve their socio-economic status, reduce poverty, create wealth and boost their leadership qualities, so that they can have a say in their immediate community in relevant decision-making processes.”
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