₦airaland Forum

Ekez:
Pls take your useless money out of Biafra land.

jpphilips:
Biafra doesn't have 50k to give your sorry arse!!

Butterflyle0:
The money is 10k repayable within 6 months and thereafter you qualify for 50k to further boost your business.

Feel free to carry out your own research and stop calling what you are yet to understand a lie.

Butterflyle0:
The money is 10k repayable within 6 months and thereafter you qualify for 50k to further boost your business.

Feel free to carry out your own research and stop calling what you are yet to understand a lie.

Yyeske:
Read and you won't, the idea is actually meant for mostly petty traders and not big businessmen.
10k may not be enough for some people for a Saturday groove but could mean more than enough for others to sustain their 5k ware they are trying to sell e.g tomato, fish, pure water sellers and the likes, remember, not all fingers are equal.
So next time you see a good thing, appreciate it no matter how small so that God would bless you with more.

Herdsmen:
Pls ..wetim 50k go do for an average igbo business man or trader in the east.

money is money oh.. but 50k to boost business.. is a big scam.. carry go ibadan..Dem still dey enter Moto 20naira over dia..

Instead use our share built sea port .. complete enugu airpore .
Enugu ..onitsha road..

....use the rest to buy petrol for your zombie pythons for safe ride back to daura.. they need em over dia..

Meanwhile.
We all know say na election propaganda..as dished by the assistant chief resident zombie.

But..add Leo..
Biased mod go ban you..

sirfemoz:
I just have a question; If you are selling spare parts at Ladipo, and someone gives you 50k to boost the business, hope you will be happy?

Butterflyle0:
But your GEJ who is your own brother ignored you and did nothing for you. Why didn't he give you all the things you listed ?

iskay1971:
You don't smell what I smell. It seems you need someone to tell you that this high level inducement. Not just a Congo of rice or two yards of Ankara again. Remember it is called "interest free loan" but I bet you BENEFICIARIES VOTE IS THE INTEREST.

Things are this tough when inducement is just Rice & Ankara How can you imagine how tough it will be now that the package is gone up. Those who did not collect the loan too will feel the pain when the desperate lender will start collecting back the loan.

Wait and see.

obi58:
I doubt you even know ANYTHING apart from the 30k PETTY BMC allowance you receive.

Nigerians are an industrious set of people. If you want to help them out of poverty, get them to form cooperatives and lend them supervised reasonable funds (100k minimum) through MFBs to break the poverty cycle and not insult their intelligence with pittances as if they are beggars.

Empower budding entrepreneurs with good business ideas with loans to start up and grow their businesses and employ people.

Not all these pandering to the gallery.

jaxxy:
Don’t sell your birth right for a plate of porridge. Lol

budaatum:
Nigerians are industrious people. So industrious that they have not waited for government and have formed cooperatives that lend them up and above 1M if they want! This is for people who can't access those coops!

Yyeske:
FYI, the economic downturn that led to the recession started mid 2014 as a result of falling oil prices and hugely because the government of GEJ refused to save.
Soludo, Okonjo and a host of world economists predicted the recession irrespective of who would win the 2015 election because GEJ refused to save for the rainy day even after being warned.
Go read up why during the 2007/2008 recession why Nigeria didn't feel it much but countries in the Americas, Europe, Asia were all losing jobs, poverty on the increase.

Butterflyle0:
#TraderMoni disbursements have started in SE!

Interest free loans of up to N50,000 to boost petty trading businesses for two million beneficiaries nationwide between now and December this year.

Some Beneficiaries in Abia State.
#PMBSocialInvestment

obi58:
Exactly my point, why can't the government develop the cooperatives idea by providing education, exposure and. Finance?

Is there any special condition to forming a cooperative that precludes these set of Nigerians? Instead of giving one seller 10k and pat yourself on the back, why not encourage this same person to form a team with other sellers and thus access 100k each? There is something known as the multiplier effect bro. Basic economics

budaatum:
The government? You mean you and I, right? If you do, then the answer is that we actually do. But trust us to screw it up.

A government led initiative to form a cooperative for cassava growers was initiated in my home town. Those who joined had to own 4 acres of land to grow cassava, pay 1000 naira registration fee and 50 naira for meeting minutes every meeting with other fees added on as time went by. In return, a loan of 250k would be given, with a guarantee purchase of the cassava. Except when I attended a meeting, of the 100 or so other people attending, only about 15 did I know who were farmers, and less than half looked like they'd ever step foot on a farm.

Now, I grew cassava on approximately 2 plots, 200*100metres², of land. My land, not being the best for it means I shouldn't imagine harvesting in a year, which the loan was for, and better wait 2 years for a decent sized yield. In which time, apart from planting, which includes preparing the land, I would clear weeds at least 3 times at 4000naira a pop.

When I eventually harvested, I was offered 15k for my cassava. Which at 6 plots an acre means I'd get 45k for an acre and 4 times that for 4. Now you do the maths. Wouldn't I have been unable to pay back the 250k, plus interest, plus cost of growing the cassava? It's why the coop was called "gbe omu le lanta" (place your tits on a lantern), to denote the worrying you'd have to do in order to pay back the money! When I pointed this out to people, I was kindly told to take my Oyinbo head back to where I'd been deported from because it seems, "you don't know how things are done here". They all thought I'd have to have been deported if being a farmer back in what could best be described as "a village", was what I'd decided to go home and do. And I didn't disabuse them of their thinking though the real reason was to spend time with my father.

On further investigation, I found out that most of the people applying for the loan had no land to plant on and were being offered land to register for a fee of up to 20% of the eventual loan. They were told to do whatever they wanted with it and pay it back later, and my people, seeing a 'good thing', applied in droves. Except, after they'd paid the upfront fee for registering the fake land, and the 1000 naira and so many meeting minute and other fees (over 7500 naira in total per person in the end), the 250k did not materialise. The scheme got aborted because the government agency in charge of disbursing the money got whiff of the corrupt practises that had soiled the entire process.

It turned out the same scheme had been offered to maize growers, pig farmers, fish breeders and so on, and was a repeat of a similar scheme from 7 years prior where people who had borrowed the money ( it had materialised then) were unable to pay and ran away from town and those who did pay back had burnt tits.

See, we talk about corruption, but it wasn't the government scamming my people. We, the people, were the ones scamming ourselves! And until we learn to do things better amongst ourselves, cooperatively, with no underlying selfish motives, the next best thing is to rely on individual enterprise and self interest, give you 10k, call it a loan, and hope you'd pay it back in promise for more.

Better would be to spend all that money on providing electricity, of course. But we've done that so many times over in the past and are still living in the dark!

obi58:
You do tell a good story but the experience in your locality need not be what occurs everywhere.

Either way, if there is deliberate intent to enforce proper disbursement and utilisation of apportioned funds, then a rigorous monitoring program will be implemented.

Microfinance institutions are currently making majestic profits year on year lending to cooperatives so it may be an idea to understudy them if government agencies are unable to replicate same effectively on their own.

Sirjamo:
If there is one thing I hate about Buhari, its him trying to be fair to this children of hate.
I would have donated them to Cameroon a long time ago.

dlondonbadboy:
Was this before Python dance 1 or after python dance 2?

You kill my people and bribe them with coins?

A million thunder fire Buhari.