Audio Money? FG says it has Disbursed N100bn to Unemployed Youths, Small Businesses

Audio Money? FG says it has Disbursed N100bn to Unemployed Youths, Small Businesses

  • The federal government of Nigeria has given over N100 billion to the unemployed youths and women in the country since 2015
  • The Minister of State for Labour, Festus Keyamo said this during a women empowerment programme in Jos, the Plateau state capital
  • Keymo stated that the goal of the National Directorate for Employment under the labour ministry is to provide support for women as they support the family

Festus Keyamo, the Minister of State for Labour and Employment, says that the Nigerian government has spent N100 billion on unemployed youths and small businesses in the country.

He said this in a statement made available by his media office on Sunday, December, 19 2021 in Abuja.

Minister of State for Labour, Festus Keyamo
Minister of State for Labour, Festus Keyamo Credit: Keyamo
Source: Facebook

The minister was represented by the Director-General of the National Directorate of Employment (NDE), Abubakar-Nuhu Fikpo. Keyamo said this at the launch of the disbursement of empowerment items to women in Jos, the Plateau State capital.

Breather for small businesses

Keyamo said the N100 billion was given through the Development Bank of Nigeria from 2017 to facilitate Small and Medium Enterprises (MSMEs) with the view to creating jobs for the country’s teeming unemployed.

PAY ATTENTION: Subscribe to Digital Talk newsletter to receive must-know business stories and succeed BIG!

What Keyamo said:

"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 per cent of loans disbursed in 2019 and 2020 were to youths and women-owned businesses."

Skills acquisition is critical

The minister stated that the NDE's empowerment of women was created to ensure that the beneficiaries and trainees get relevant and saleable skills that would thrust them into beginning their own businesses, according to a report by the News Agency of Nigeria (NAN).

He said the aim of the employment body is to provide them with quick income-generating opportunities because of their roles in providing family support and sound social stability at the very foundation of society.

The minister added that the women were also trained in interior decoration, make-over, auto, gele tying, food processing and packaging.

Keyamo said:

"I am glad to inform you that each of the participants will be given a loan package ranging from N100,000 to N150,000, depending on their choice of a skill, to start their own businesses in order to exit the labour market. This will enable them to become more responsive to their family and immediate environment."

Keyamo celebrates Buhari at 78 reported that the minister of state for labour and productivity, Festus Keyamo has joined millions of admirers and supporters of President Muhammadu Buhari to wish him a happy birthday.

Buhari marks his 78th birthday on Thursday, December 17 and his well-wishers have been celebrating him via social media.

Keyamo, an avid loyalist and political ally of the president, took to his media page to celebrate his boss.


Online view pixel