The Minister for Labour and Employment (State), Festus Keyamo has claimed that the Federal Government has disbursed over ₦100 billion to unemployed youths and small businesses over the last 5 years.
Keyamo claimed that the money was disbursed to Nigerians in the last five years through various means by the federal government.
He made this disclosure while speaking at an empowerment programme held in Jos, Plateau State.
The minister who was represented by Abubakar Nuhu Fikpo, Director-General of the National Directorate of Employment, NDE, Keyamo submitted that the money was disbursed through the Development Bank of Nigeria.
He assured that the Federal Government was determined to ensure that businesses succeed and that was the reason behind the various disbursements.
According to Keyamo: ‘Let me inform you all that the Federal Government has put all plans in place to ensure that businesses succeed in Nigeria.
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‘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.
‘It is heartwarming to note that 52 percent of loans disbursed in 2019 and 2020 were to youths and women-owned businesses.’
Africa Daily News, New York recalls that the Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele, had some time this year disclosed that the synchronized efforts by the monetary and fiscal authorities to mitigate the impact of the COVID-19 pandemic have led to the disbursement of ₦2. trillion as of January this year.
He revealed that ₦192.64 billion has been disbursed to 426,016 beneficiaries of the COVID-19 Targeted Credit Facility (TCF) meant for households and small businesses as the case maybe.
AFRICA DAILY NEWS, NEW YORK
