The Federal Government of Nigeria has made it known that it has disbursed N5million as revolving loans to 500 women across the 33 local governments in Oyo State, to boost their businesses.
It was gathered that the money was disbursed through the National Directorate of Employment (NDE) to beneficiaries at Donald Hall, St Joseph Catholic Church, Oke-Ado, Ibadan.
The state NDE Coordinator, Mrs. Olayinka Olayemi, stated that the initiative was designed to help the women start and expand their businesses and that the program was under NDE’s Micro Enterprises Enhancement Scheme (MEES).
She added that it would contribute to economic growth and poverty reduction.
Olayemi said the empowerment was part of the Federal Government’s laudable program across the country being implemented by the NDE under the leadership of Dr. Nasiru Argungun.
Argungun also said each of the beneficiaries would get N10, 000 as financial backing to start up a micro business or expand the existing one.