PTDF Targets Start-up Capital Boost, Partners Heritage Bank

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Petroleum-Technology-Development-Fund-PTDFAs part of efforts to provide start-up capital of beneficiaries of its training programme, the Petroleum Technology Development Fund (PTDF) has entered into partnership with Heritage Bank to provide soft loans for 20 youths trained under its empowerment scheme.

The selected beneficiaries which are part of the 120 youths trained in Cotonou, Republic of Benin, in various engineering and ICT skills will benefit from about N10 million credit to enable them acquire start-up equipment and machinery.

Speaking at the opening of the programme in Abuja recently, PTDF executive secretary, Femi Ajayi, explained that the Fund was going beyond just training the youths drawn mostly from the oil rich Niger region, to providing them opportunity to obtain cheap financing for their businesses.

He explained that under the scheme 120 youths from the Niger Delta and other parts of the country were trained in various vocational/hands-on skills, including ICT, diagnostic/fault detection in heavy duty equipment and auto rotary technology at a City and Guilds certified centre in Cotonou.