The Nigerian Agip Oil Company (NAOC) has disbursed a micro-credit loan to 30 cooperative societies in the country.

According to the Tide News, the collectives are spread out across the Rivers, Delta and Imo states and a representative of Sabastiano Barafato, general manager of NAOC, urged the groups to use the funds to address critical food shortages in the country.

Meanwhile, Akin Akintola, the executive director of the Community Development Foundation, announced that all 30 cooperatives were engaged in pre-disbursement training to allow the money to be used most effectively.

"Beneficiary groups need to comply with all loan conditions as contained in the loan agreements, which include regular servicing of interest, effective use of banking accounts, use of borrowed funds for enterprise activities and prompt repayment," Mr Akintola stated.

According to NAOC, 90 per cent of its positions for workers in the oil and gas industry are filled by local Nigerians, from unskilled labour roles through to executive management.

Oil and Gas Directory: Training and Development