1,190 associations to benefit from FG empowerment scheme in Enugu

NAN-H-93
GEEP
By Emmanuel Acha
Enugu, Feb. 2, 2017 (NAN) No fewer than 1,190 associations and cooperatives in Enugu State will participate in the Government Enterprise and Empowerment Programme (GEEP) of the Federal Government.

The Permanent Secretary in the state Ministry of Gender Affairs, Mrs Chinyere Oluka told the News Agency of Nigeria (NAN) in Enugu on Thursday that the programme was targeted at farmers and artisans.

Oluka said that the empowerment scheme was a bilateral proOluka gramme between the Federal Government and the state government aimed at strengthening the economy.

She said that beneficiaries of the programme were expected to get a loan of between N10,000 and N100,000 depending on the kind of trade or investment they were engaged on.

“We have so far given out forms to 1,190 associations and cooperatives who are expected to participate in the pilot phase of the scheme.

“The forms have been processed and forwarded to the Federal Ministry of Women Affairs and we are now waiting for feedback so that these people can assess the loans,” she said.

The permanent secretary said that the loan did not require counterpart funding by the state government or collateral from the beneficiaries.

“It is a revolving loan where beneficiaries will surety themselves so that as soon as they pay back, more fresh applicants can get their own.

“The State Economic Planning Commission will have a database of the beneficiaries and establish strong monitoring and evaluation units to ensure the loans are paid back,” she said.

Oluka said that the Bank of Industry would administer the loan, adding that beneficiaries needed to register as an association of 10 people to participate in the scheme.

She said that the scheme would boost the economy of the state and translate to more empowerment to the people involved. (NAN)
EOA/MNA/OFN
Edited by Maureen Atuonwu//Felix Nwadioha