Duke Seeks Coop Loans for Young Entrepreneurs

The Minister of Culture and Tourism and the Supervising Minister of Information, Chief Edem Duke , has appealed to the over 500,000 registered cooperative societies in Nigeria to give loans to young people for small and medium enterprises in order to check unemployment.

He made the appeal when members of the National Association of Cooperative Credit Unions of Nigeria paid him a courtesy visit recently in Abuja.

The visitors, while engaging the Minister on issues to help young and enterprising Nigerians to be self-employed, solicited his assistance, through cooperative societies, to access the Central Bank of Nigeria (CBN), N220 billion Micro, Small and Medium Enterprises Development  Fund (MSMED), an initiative of (President Goodluck) Jonathan administration to strengthen young entrepreneurs through the cooperative societies.

While commending the services of cooperative societies to the nation, Duke said that the banks still provide alternative sources of finance for small and medium enterprises in alleviating poverty and providing a formidable platform for the growth of the economy.

The Minister, however, assured the visitors that their plight would be addressed since the CBN Intervention Fund was a brain child of Mr. President.

Speaking earlier, president of the association, Mr. Adebola Orolugbagbe, requested for the immediate access to the Federal Government fund that was promised to young and intending entrepreneurs.

About the author

Ihesiulo Grace

Leave a Comment