The National Directorate of Employment has announced the disbursement of the sum of N1.4m as loans to 74 beneficiaries in the Micro Enterprise Enhancement Scheme, under the Small-Scale Enterprise Department of the directorate.

While addressing the beneficiaries on Wednesday during the flag-off ceremony of the disbursement in Port Harcourt, the Director-General of NDE, Abubakar Fikpo said the loan was meant to expand small businesses, which would in turn have a multiplier effect on the nation’s economy.

Fikpo, who was represented by the Rivers State Coordinator of NDE, Maureen Okeji, cautioned the beneficiaries that the money was a loan and not a grant and as such must be repaid to enable others to benefit from the lofty scheme of the Federal Government.

According to him, despite the scarcity of funds, NDE is poised to create jobs through its various schemes.

He encouraged beneficiaries to make judicious use of the loan.