The Federal Government through the National Directorate of Employment (NDE) has rolled out a commendable initiative. This initiative entails the disbursement of ₦100,000 loans to youths across the country, aimed at catalyzing small-scale businesses and igniting economic growth from the grassroots level.
The National Directorate of Employment (NDE), has disbursed N100,000 loans each to 38 youths in Kogi State to embark on sustainable agricultural development.
The loan is earmarked for the beneficiaries to embark on four agricultural schemes, namely; Graduate Agricultural Enhancement, Community Based Agricultural Empowerment, Sustainable Agricultural Development and Agricultural Enhancement under the Rural Employment Promotion Department of the NDE in Kogi state.
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In addition to the distribution of loans, a group of 100 unemployed youths received training in sustainable agricultural development. The program was launched over the weekend in Lokoja, with Mallam Abubakar Nuhu Fikpo, the Director General of NDE, officiating.
Representing him was the state coordinator, Mallam Abubakar Zakari, who emphasized the significance of agriculture as the primary sector capable of generating substantial employment opportunities for unemployed youths across Nigeria.
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The Director General emphasized the commitment of the Buhari-led administration to confront unemployment directly through initiatives aimed at generating more job opportunities for youths.
During the inauguration ceremony, Mallam Shuaibu Omeiza, the Head of Rural Employment Promotion, stated in his welcome address that the training was structured to provide beneficiaries with essential skills in crop production, livestock farming, as well as food processing and packaging.
The facilitator of the programme from NDE headquarters, Abuja, Mrs Ann Ita charged the trainees to avail themselves of the opportunity as it is capable of transforming their lives positively.
Responding on behalf of the participants, Mallam Alhassan Dangana, praised the NDE and the federal government for giving them the opportunity for the training with a promise to make good use of the rare privilege.
In a nation where youth unemployment remains a pressing issue, initiatives like these stand as beacons of hope. The NDE’s move is not merely about handing out loans; it’s a strategic investment in the potential and aspirations of Nigerian youth.
The significance of this initiative cannot be overstated. Here’s why:
- Economic Empowerment: By providing financial support directly to youths, the government is enabling them to create their own sources of income. This not only reduces unemployment rates but also contributes to poverty alleviation and economic stability.
- Fostering Entrepreneurship: Entrepreneurship is vital for economic growth and development. Through these loans, young people are encouraged to channel their creativity and innovation into viable business ventures. Whether it’s starting a small-scale agricultural enterprise, venturing into technology, or launching a service-based business, these funds serve as a catalyst for entrepreneurial endeavors.
- Skill Enhancement: The NDE doesn’t just stop at providing financial assistance; it also offers training and capacity-building programs. These programs equip youths with essential skills and knowledge necessary for running successful businesses. From business management to marketing strategies, participants are empowered with the tools they need to thrive in their entrepreneurial journey.
- Job Creation: Small and medium enterprises (SMEs) are significant contributors to job creation in any economy. By supporting youths in establishing their businesses, the government is indirectly fostering employment opportunities. As these businesses grow, they will likely require additional manpower, thus contributing to reducing the overall unemployment rate.
- Encouraging Self-Reliance: Dependency on white-collar jobs has been a prevailing mindset among Nigerian youths. However, initiatives like the NDE’s loan scheme encourage a shift towards self-reliance and self-employment. By instilling a sense of entrepreneurship and independence, young people are empowered to chart their own paths and contribute meaningfully to the economy.
The success of this initiative hinges not only on the disbursement of loans but also on effective monitoring, support mechanisms, and mentorship programs. It’s crucial to ensure that beneficiaries receive adequate guidance and assistance throughout their entrepreneurial journey to maximize the impact of the funds.
Moreover, transparency and accountability in the loan disbursement process are paramount to prevent misuse of funds and ensure that they reach deserving candidates who genuinely intend to invest in their businesses.
In conclusion
The NDE’s initiative to disburse ₦100,000 loans to youths is a laudable step towards youth empowerment and economic development in Nigeria. By investing in the entrepreneurial spirit of young Nigerians, the government is sowing the seeds for a more prosperous future. However, sustained efforts, continuous support, and effective implementation will be key to realizing the full potential of this program and transforming the entrepreneurial landscape of the nation
