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400 Nigerians get N40 million product loan for financial empowerment

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Respite has come the way of 400 Nigerians as they would be empowered with about N40 million worth of product loan.
 
The gesture is aimed at improving the standard of living of a teeming number of people and make them financially independent with a product loan of N100,000 each.

 
The National Bureau of Statistics (NBS), had in its second quarter (Q2) 2020 unemployment statistics report released recently, said Nigerian’s unemployment rate rose to 27.1 per cent.
 
To empower more Nigerians with jobs and stable income and to ameliorate the harsh economic conditions of Nigerians, Amber Energy Drink, a premium energy drink on the stable of Amber Energy Drinks Limited, has begun an empowerment programme aimed at improving the standards of living of a number of the citizens.
   
The move, Amber Energy Drink said, was borne out of its core values and belief to help young Nigerians secure multiple streams of income and create better livelihoods for themselves.
 
Flagging off the empowerment scheme, General Manager, Amber Energy Drink, Ms. Lola Adedeji, said: “The Amber Empowerment Programme (AEP), was borne out of our core values and beliefs. We believe in helping people become more self-dependent by making more money and creating a livelihood for themselves.”
 
She said the firm has commenced a training programme for the 400 Nigerians, who would be inducted into small and medium scale enterprises, and would be supported to grow under a well-structured semi-informal system.
 
She said the empowerment programme would also afford beneficiaries the opportunity to own Amber Energy canopy for stocking and selling the products, adding that the canopy would be repaid within 12 to 18 months.
 
Adedeji said the company would open an account for them, and each will be credited with N100,000 to trade and repay the principal, while interest would only be paid within a period of four months. Interest rate, according to the General Manager is five per cent flat rate.
 
This, according to her, will be auto-debited with 20 crates of Amber Energy Drinks that would be traded for repayment by the beneficiaries.
 
She said the principal and interest rate of five per cent payment is made after a period of four months. “We want the average Nigerian to be able to have good lives for themselves. With the dwindling economy, Amber found it necessary to come up with an idea to alleviate pains of an average Nigerian. We have decided to give trade loans in the form of N100,000 worth of product to those that made it through, and to watch them grow. Hopefully, they grow into distributors and people that can tend to afford for themselves without depending on freebies.”
 
On health-related issues, she said the product, fortified with vitamins and amino acids nourishes the body, and provides a mental and physical boost of energy with natural guarana plant, adding that it makes it healthy for consumption for both sexes.
 
Adedeji, who said the firm was ready to join hands to grow the Nigerian economy, said until Nigeria addressed issues of insecurity, bad roads, and electricity, Amber Energy Drink would continue to be produced in South Africa.
 
Head of Sales, Amber Energy Drink, Mrs Tope Adetiba, who took the participants on how to make money and grow in the business, spoke to them about how the firm was ready to support them and help them grow to attain the firm’s ‘Amber-ssadors’ status.
 
She added that the training programme for over 400 beneficiaries would run every Tuesdays through the month of September with three sessions for at least 100 participants daily.
 
She said no fewer than 4,000 applications were received out of which 400 beneficiaries were shortlisted for the kick-off.

 
 


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