The minister of state for labour and employment, Festus Keyamo says the Federal Government has disbursed N100 billion in five years to support businesses.
According to a statement made available to journalists on Sunday, December 19, in Abuja, the minister disclosed this at the flag off of the disbursement of empowerment items to women in Jos, Plateau State.
“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 terror!sm 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. It is heartwarming to note that 52 percent of loans disbursed in 2019 and 2020 were to youths and women-owned businesses,” the statement reads.