Presidency disburses interest-free loans to 828 beneficiaries in Bayelsa
Written by Olarotimi Oshin on November 16, 2022
President Muhammadu Buhari’s led administration says it has distributed interest-free loans to 828 entrepreneurs on Tuesday in Bayelsa under its Government Enterprise Empowerment Programme 2.0 (GEEP 2.0) scheme.
Minister of Humanitarian Affairs, Disaster Management and Social Development, Sadiya Farouq, said beneficiaries were entitled to between fifty thousand naira (N50,000)and three hundred thousand naira (N300,000).
The minister added that 8,762 persons applied for the facility in Bayelsa, but only 828 met the set criteria and were shortlisted to receive the loans and that beneficiaries were free to take additional loans after the repayment of the one received on Tuesday and urged them to use the funds prudently.
On her part, the Bayelsa State Commissioner for Women and Children Affairs and Social Development- Faith Opuene, lauded the regime for complementing the state government’s scheme of empowering 210 persons monthly in the state.
She however regretted that only about 10 per cent of applicants could benefit from GEEP 2.0.