The Abuja Enterprises Agency, AEA has trained over 2,000 youth in different areas of vocational skills in the last one year. At the graduation ceremony of another batch of 150 participants of its 3rd series in Abuja, the Managing Director and Chief Executive Officer of the agency, Muhammed T. Arabi said the initiative was part of AEA’s contributions to reducing unemployment and boosting private businesses in the country. He said the beneficiaries were selected individuals who received trainings in construction, beauty, manufacturing and agricultural sectors. Arabi who was represented by a Director in the Agency, Chudi Eziringwe stated that the trainings and support for participants was necessary considering inadequate white collar jobs, especially for graduates of high academic institutions.
He said, “We are pleased to announce that AEA has put in place a Credit Scheme such as the Federal Capital Territory (FCT) microfinance Bank, the Bank of Industry [BOI] where soft loans are given to beneficiaries to boost their businesses on a single digit rate, not more than 9 percent. The financial assistance are made available to our graduates to properly finance their projects’’. He stated that successful participants were given support of N5, 000 each as a micro credit financial support to enable them start up.
On monitoring, the AEA MD explained that the agency has also put in place an evaluation and monitoring department to help in review and making sure that money given are properly utilized as well as ensure that the loans are paid as at when due.