STATE HOUSE PRESS RELEASE

TWO MILLION NIGERIANS TO GET COLLATERAL FREE LOANS IN BUHARI ADMINISTRATION’S NEW MICRO CREDIT FOR PETTY TRADERS

*EACH STATE, FCT TO GET MINIMUM 30,000 BENEFICIARIES

*SCHEME OPENS IN LAGOS, KANO & ABIA TO FOLLOW

*GOES ROUND COUNTRY BY YEAR END

In a determined and significant bid to further enlarge its financial inclusion agenda for all Nigerians regardless of social class and economic status, the Buhari administration has launched a new initiative under the Government Enterprise and Empowerment Programme (GEEP), called the TraderMoni, which will empower two million petty traders between now and the end of the year.

The scheme, which was launched last week in Lagos, would grant a minimum of 30,000 loans in each State of the federation and the Federal Capital Territory.

All together, the 2 million mark is expected to be attained on or before the end of this year, with petty traders in Lagos, Kano and Abia States set to be the first round of beneficiaries to draw the collateral free loans.

In addition to the 30,000 loans per State, States with larger populations like Lagos and Kano are expected to get more than 30,000 loans. Across the country, especially in the pilot states, about 500,000 potential beneficiaries have so far been enumerated.

In order to identify the beneficiaries, no less than 4,000 enumeration agents have been engaged by the Bank of Industry which is deploying the new scheme.

TraderMoni is designed to help petty traders expand their trade through the provision of collateral free loans of N10,000. The loans are repayable within a period of six months.

Under the scheme, beneficiaries can get access to a higher facility ranging from N15,000 to N50,000 when they repay N10,000 within the stipulated time period.

The goal of the Buhari Administration is to use the TraderMoni to take financial inclusion down to the grassroots, the bottom of the ladder, considering the contribution of petty traders to economic development.

The Federal Government is also aware of the fact that many of the petty traders don’t have what the commercial banks require to grant them loans.

This administration is keen to ensure that such traders at that level are able to build their businesses and grow.

TraderMoni was launched last Tuesday in five markets in Lagos State, with tens of thousands beneficiaries already. The Lagos markets already reached are Mushin, Ikotun, Agege, Ketu, and Abule Egba markets.

The scheme will soon be taken to other states in the country, with Abia and Kano states next in line. Beneficiaries are already heaping praise on the Buhari administration for this initiative that will improve their businesses.

A trader in one of the Lagos markets, Anna Enwerem, thanked President Buhari for the initiatives. “I sell clothes. This N10,000 would do a lot for me and my children. I like this programme so much. I will pay the loan before six months’ time. Before I didn’t believe it, but now that I have received my money I believe," she said.

Similarly, Chief Mrs Mufiat Adewumi, a market women leader in Lagos, said it will help ordinary Nigerians who cannot have access to commercial banks’ credit facilities because they don’t have collateral, “We are happy about
the TraderMoni because this is what we have been expecting for long, that the Government should assist the masses, especially the traders. We thank the Federal Government so much.”

Laolu Akande
Senior Special Assistant to the President on Media and Publicity,
Office of the Acting President,
12th August, 2018

Link

https://www.premiumtimesng.com/news/more-news/279939-two-million-petty-traders-to-get-collateral-free-loans-fg.html

Mynd44, OAM4J I think Nigerians need to be aware of this and benefit too

Finally, the money is beginning to tricklte down to every Nigerian no matter how lowly placed.

Market men and women congratulations to you all all over the federation!!!


PMB SAK

Budaatum come and see

Madridguy, sarrki, seunmsg, buhariguy

It is a good initiative but the money is very much small for businesses except you are selling groundnuts and sugar.

laudable

HMM...
Naso they dey talk.

lekzyn:
It is a good initiative but the money is very much small for businesses except you are selling groundnuts and sugar.

From the OP

TraderMoni is designed to help petty traders expand their trade through the provision of collateral free loans of N10,000. The loans are repayable within a period of six months.

Under the scheme, beneficiaries can get access to a higher facility ranging from N15,000 to N50,000 when they repay N10,000 within the stipulated time period

TOSIN116:
HMM...

Naso they dey talk.

From the OP

TraderMoni was launched last Tuesday in five markets in Lagos State, with tens of thousands beneficiaries already. The Lagos markets already reached are Mushin, Ikotun, Agege, Ketu, and Abule Egba markets

Where is the electricity?

Where are the jobs ?

Where are the refineries ?

Where is the good economy?

Where is the security ?

Where is access to healthcare ?


Buhari has failed to deliver all of the above only to turn into a father Christmas fascist months before the election in a bid to sway voters with such wild deception that I even consider an insult to Nigerians ....Nigerians must unify and reject such a bad govt in totality because we did not not vote for Buhari to become a stipend doler.

mor like "TWO MILLION CORE NORTHERNERS TO GET COLLATERAL FREE LOANS"
if u ain't 4rm dat region, go hussle n 4get about dem cos notin 4 u.

You can't expect someone into building materials or spare parts business to collect such loan. Though it is very much good initiative but it is mainly for petty traders.

Butterflyle0:
.

K

FarahAideed:
Where is the electricity?

Where are the jobs ?

Where are the refineries ?

Where is the good economy?

Where is the security ?

Where is access to healthcare ?


Buhari has failed to deliver all of the above only to turn on into a father Christmas fascist months before the election in a bid to sway voters with such will deception that I even consider an insult to Nigerians ....Nigerians must unify and reject such a bad govt in totality because we down not vote for Buhari to become a stipend doler.

As e dey pain you, e dey sweet us

Carry your bucket list of complaints and go and enquire about them at the doorstep of the government that messed up everything you listed up there within their 16years of power.

You will eventually cry me an ocean. Don't worry


PMB SAK!!

lekzyn:
You can't expect someone into building materials or spare parts business to collect such loan. Though it is very much good initiative but it is mainly for petty traders.

From the OP

The goal of the Buhari Administration is to use the TraderMoni to take financial inclusion down to the grassroots, the bottom of the ladder, considering the contribution of petty traders to economic development.

The Federal Government is also aware of the fact that many of the petty traders don’t have what the commercial banks require to grant them loans.

This administration is keen to ensure that such traders at that level are able to build their businesses and grow.

₦10,000?

What an insult. The capital needed by the aboki mai shai that hawks tea to start up or the mai guard to run a small street kiosk is more than that.

Create the enabling environment, work out policies that will reduce your exchange rates, fix your energy sector and small businesses will thrive.


This government is so daft.

Butterflyle0:


As e dey pain you, e dey sweet us

Carry your bucket list of complaints and go and enquire about them at the doorstep of the government that messed up everything you listed up there within their 16years of power.

You will eventually cry me an ocean. Don't worry


PMB SAK!!

Shameless riggers and result alterers on..God will disgrace una by fire by force !!!!!!

After killing Nigeria's currency you are giving people #30000 to start what kind of business?


This will not save them in 2019

Merimental:
mor like "TWO MILLION CORE NORTHERNERS TO GET COLLATERAL FREE LOANS"
if u ain't 4rm dat region, go hussle n 4get about dem cos notin 4 u.

Learn to read everything and understand whatever you read.

From the OP

The scheme, which was launched last week in Lagos, would grant a minimum of 30,000 loans in each State of the federation and the Federal Capital Territory.

TraderMoni was launched last Tuesday in five markets in Lagos State, with tens of thousands beneficiaries already. The Lagos markets already reached are Mushin, Ikotun, Agege, Ketu, and Abule Egba markets

This people are so wicked that they make Nigerians so poor.

We now value 10k like it's 1m naira, pathetic

Yes, it is advanced "two onions and a loaf of bread" that is intended to buy the votes of the masses. It's what Nigerians understand, and I'm glad Buhari has stooped so low to pander to their ignorance. I would be very annoyed if he wasn't doing absolutely everything possible to ensure he wins this election.

I'm drawing a line and saying it now so everyone knows I have. If PMB loses this coming election and anyone says pdp rigged it that person is a fool! If PMB rigs election I hope the courts decide against him and kick him out!

luvinhubby:
₦10,000?

What an insult. The capital needed by the aboki mai shai that hawks tea to start up or the mai guard to run a small street kiosk is more than that.

Create the enabling environment, work out policies that will reduce your exchange rates, fix your energy sector and small businesses will thrive.


This government is so daft.

From the OP

TraderMoni is designed to help petty traders expand their trade through the provision of collateral free loans of N10,000. The loans are repayable within a period of six months.

Under the scheme, beneficiaries can get access to a higher facility ranging from N15,000 to N50,000 when they repay N10,000 within the stipulated time period

I am sure even your family members would find it hard giving you 10k but the FG are doing so and expect you to grow with it.

"He that is faithful in little, more shall be added unto him"

If you are faithful with your 10k then you can get 50k and only a lazy youth would throw away 50k and be unable to grow a business with that.

StillX10:
After killing Nigeria's currency you are giving people #30000 to start what kind of business?


This will not save them in 2019

Remove elections from your head. Its meeting needs right now. The needs of market women and men who fit into that category.

Allow them to also smile after 16 years of torture from 2015 backwards

Butterflyle0:

From the OP

Alright bro. FG are doing a good work.

Butterflyle0:


Learn to read everything and understand whatever you read.

From the OP

wat ar d names of dose who hav benefited ?..core northerners do not settle in d north alone..wel make we dey see

Merimental:


wat ar d names of dose who hav benefited ?..core northerners do not settle in d north alone..

Why not go to the markets listed in the OP to carry out an independent name gathering.

However from the OP

A trader in one of the Lagos markets, Anna Enwerem, thanked President Buhari for the initiatives. “I sell clothes. This N10,000 would do a lot for me and my children. I like this programme so much. I will pay the loan before six months’ time. Before I didn’t believe it, but now that I have received my money I believe," she said.

Similarly, Chief Mrs Mufiat Adewumi, a market women leader in Lagos, said it will help ordinary Nigerians who cannot have access to commercial banks’ credit facilities because they don’t have collateral, “We are happy about
the TraderMoni because this is what we have been expecting for long, that the Government should assist the masses, especially the traders. We thank the Federal Government so much.”

Surely those names are not northern names.

Butterflyle0:


Remove elections from your head. Its meeting needs right now. The needs of market women and men who fit into that category.

Allow them to also smile after 16 years of torture from 2015 backwards

ok

FarahAideed:


Shameless riggers and result alterers on..God will disgrace una by fire by force !!!!!!

You had 16 years to get it right but messed it all up because you were all thieves and looters and chose to impoverish the common man and for that, you got booted out in 2015.

3 years down the line you are yet to recover from it .

Well you can cry me salted, peppered or bitter tears na you sabi. All I know is PMB till 2019

Butterflyle0:


Why not go to the markets listed in the OP to carry out an independent name gathering.

However from the OP




Surely those names are not northern names.

u try...at all at all na im bad pass..i hope its distributed fairly...nice one

Merimental:

u try...at all at all na im bad pass..i hope its distributed fairly.

The modalities are all in the OP.

Read it again so it would be clearer just in case you have people who might fit into such a category

Butterflyle0:
Finally, the money is beginning to tricklte down to every Nigerian no matter how lowly placed.

Market men and women congratulations to you all all over the federation!!!


PMB SAK

Budaatum come and see

Madridguy, sarrki, seunmsg, buhariguy

You are a patriot

God bless you

Butterflyle0:


The modalities are all in the OP.

Read it again so it would be clearer just in case you have people who might fit into such a category

alrite..

lekzyn:
You can't expect someone into building materials or spare parts business to collect such loan. Though it is very much good initiative but it is mainly for petty traders.

Its not a loan but bribe for vote

FarahAideed:
Where is the electricity?

Where are the jobs ?

Where are the refineries ?

Where is the good economy?

Where is the security ?

Where is access to healthcare ?


Buhari has failed to deliver all of the above only to turn into a father Christmas fascist months before the election in a bid to sway voters with such wild deception that I even consider an insult to Nigerians ....Nigerians must unify and reject such a bad govt in totality because we did not not vote for Buhari to become a stipend doler.

but you voted for your ineffectual buffoon as he was given the jobless aggressive lazy idiotic pigs of Biafra millions, 7 billions to fake pastors and 7billion to each of those jobless aggressive lazy idiotic terrorist social cultural leaders like ohaneze, afeniferi etc. To garner vote for him, instead of to let the stipend reach the masses.