Home News We’ve disbursed N100bn to assist businesses since 2017 –FG

We’ve disbursed N100bn to assist businesses since 2017 –FG

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The Minister of State for Labour and Employment, Mr Festus Keyamo, said Federal Government has disbursed about N100 billion through the Development Bank of Nigeria since 2017 to facilitate Small and Medium Enterprises (MSMEs) to boost job creation.

A statement made available to journalists at the weekend in Abuja, quoted the minister as speaking at the flag off of the disbursement of empowerment items to women in Jos, Plateau State.

Keyamo who was represented by the Director General of the National Directorate of Employment (NDE), Abubakar Fikpo, said; “You will all agree with me that unemployment is one of the remote causes of banditry, terrorism, corruption and other forms of criminality.

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“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. “I am proud that the National Directorate of Employment (NDE) which I am privileged to Chair its Board and also directly supervise, is leading effectively 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 series of funding and capacity development initiatives designed to support Micro, Small and Medium Enterprises (MSMEs).

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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 heartwarming to note that fifty two percent (52 percent) of loans disbursed in 2019 and 2020 were to youths and women owned businesses.”

 

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