₦airaland Forum

djon78:
Trademoni is a socialist scheme
There is no iota of economic value it adds to the economy.
Why didn't they use this money on 10 000 to 50 000 SMES

Socialist policies just give feeding money to ordinary people to chop daily food.
Maximum in less than 2 weeks it is back to square one

If they have wanted, to cater to the poor, they should have copied what Mohammed Younis did with Graemean bank in Bangladesh which gave finance to the poorest in the country.
It added economic value to millions and he won Noble Peace prize with it due to its impact.

GavelSlam:
See your environment


And you have the audacity to suggest the monies are small and shouldn't be returned.

mixter:
In Timaya's voice, I concur . Well said, that's a step in the right direction .Definitely , it shouldn't be returned, if they can be so daft enough to be giving people 10k. I wonder whether people don't reason again. On rare occasions do you see a deputy not agreeing to the ideas of the boss and you see the deputy resigning in Nigeria. Defence minister of Israel resigned because he didn't agree with Netanyahu's agreement of the cease fire with Gaza. My guy resigned . Now, I wonder why the VP cannot resign due to the fact that he doesn't agree with the ideas of his boss (Buhari), afterall, he is a learned man and he knows deep down that this not the way to go.

GavelSlam:
Can you explain the difference between what you've suggested and what is actually being done?

humandroid:
You truly do not know Osinbanjo, when they say he is a Pastor, then I question what Christianity has become and I will explain why;

Osinbajo is one of Tinubu's closest legal advisers and handled most of his deals, all the acres of land illegally acquired, all the extortion via Alpha Beta, the looting of treasury, etc, it is Osinbajor's job to defend Tinubu and he has been doing so. He was like Tinubu's PA, please confirm it. But he is also a Pastor.

Expecting Osinbajor to resign is like expecting a monkey to reject a very ripe Banana, it is a huge challenge, because Pastors eat Church Tithes and Offering money, so politics money is even sweeter.

nairaman66:
Shame on you osinbande and your bandwagon of institutionalized corrupt crew!

deji68:
in ibadan there were only given 5000 Naira ...... i hope the balance of 5000 is still intact

djon78:
What is the economic value of 10000 to a person in this economy?
Do you truly think you will lift him from poverty?

This is purely a socialist scheme
It is more like feeding money, and nothing else.

Government should have truthfully called it that they are giving feeding money to ordinary Nigerians

humandroid:
That is nice, if the money actually gets to the 1 million people.

It should be an institutionalized welfare package and not a loan.

mixter:
True talk. It gets to me when I see the way Government treat people in this country. Two weeks is too much sef. It hurts me to see this kind of nonsense going on .

mixter:
Enlighten me sir. I wanna learn something new. I replied in context to what was written earlier. So put me right as all I can do is grow and learn daily.

GavelSlam:
Please research on the Nobel prize for Economics 2006.

The individual you were chatting with earlier spoke about the Gramaen Bank of Bangladesh and it is exactly the same strategy being adopted by government today.

There is no free money and Nigeria is a poor nation.

The earlier many of you realise it the better for the nation.

highbee02:
In some parts of Ilorin we were paid #5,800 only. So if I want to repay the loan, are my going to pay #10,000 or #5,800?

djon78:
Trademoni is a socialist scheme
There is no iota of economic value it adds to the economy.
Why didn't they use this money on 10 000 to 50 000 SMES

Socialist policies just give feeding money to ordinary people to chop daily food.
Maximum in less than 2 weeks it is back to square one

If they have wanted, to cater to the poor, they should have copied what Mohammed Younis did with Graemean bank in Bangladesh which gave finance to the poorest in the country.
It added economic value to millions and he won Noble Peace prize with it due to its impact.

GavelSlam:
Shut up.

They build railway you complain.

They build roads you wail.

They engage your brothers and sisters in Npower, you claim the pay is too small.

They give interest free loans which a million have benefited from, your stomach aches you.

You are exactly that villain in Nigerian Home Videos. Your only source of happiness is misfortune.

Should Boko Haram cause some carnage, you would be using smiling icons.

mixter:
In essence, it is a step in the right direction in your opinion right ? If yes, if you were the leader of this country and you were given 5 billion naira in loan with the intention of paying it back. Is this how you will utilize the funds? Kindly reply, so I can know how to address you .

GavelSlam:
Shut up.

They build railway you complain.

They build roads you wail.

They engage your brothers and sisters in Npower, you claim the pay is too small.

They give interest free loans which a million have benefited from, your stomach aches you.

You are exactly that villain in Nigerian Home Videos. Your only source of happiness is misfortune.

Should Boko Haram cause some carnage, you would be using smiling icons.

tomdon:
Na wah. Are you describing the life of your father and generation in general?

Let's see the railway and roads first sef

nextstep:
Tradermoni is a loan scheme. The money is supposed to be paid back. It's given to small- and medium-scale businesses for business development, so how does that equate to socialist policy? It's quite similar to the Grameen bank ideology of stimulating economic prosperity from the bottom. This is the start of something we've been asking for a long time: government-backed loans to businesses.

Tradermoni is not a handout to feed... it's a loan to allow you to grow your business. 10k may not seem like much, but it can make the difference between perpetual subsistence and actually making a decent profit to grow - just like that basket-weaver in Mohammed Younis' background on Grameen. It has flaws, and there will be profiteers, but it's the first serious initiative from government for years. The unfortunate thing is rather than continuity, it will be abandoned, just like the NAPEP scheme was.

Mrjo:
see how they are sharing the money

cute9ja:
Vice President Yemi Osinbajo has said that no fewer than one million traders have already benefited from the TraderMoni Scheme of the Federal Government.

“The first phase of the TraderMoni was targeted at two million petty traders across the country, but over a million have today benefited from the scheme,” the News Agency of Nigeria quoted Osinbajo as saying.

Osinbajo was in Bodija and Oje markets in Ibadan, Oyo State capital, on Thursday, during which he introduced the TraderMoni Scheme of the Federal Government to the traders.

He was accompanied by Oyo State Governor, Abiola Ajimobi, alongside other government officials.





According to the Federal Government, the TraderMoni is a collateral-free loan that ranges from N10,000 to N50,000, depending on how well the borrowers are able to make repayments.

All petty traders and artisans in Nigeria are eligible to access the loan, government said.

Osinbajo said, “We have observed that nobody wants to give these traders credit because lenders believe they won’t pay back.

“The market traders represented the most significant percentage of those who engage in commercial activities.

“Both the TraderMoni and the MarketMoni schemes seeks to address that large population or persons involved in commercial activities who usually don’t have access to credit.”

Some of the traders, who spoke to NAN at the markets, lauded the initiative of the Federal Government.

The Babaloja of Oje market, Mr. Saliu Delesolu, lauded the Federal Government for initiating the programme, saying it would enhance petty trading.

“This is the first time a government in this country will be extending credit facility to petty traders. We appreciate this and thank President Muhammadu Buhari for this.

“We assure our members that the money would go round. Not everybody could benefit from it at once but we have been assured that the programme will be institutionalised,” he said.

A petty trader, Mrs. Olajumoke Ajao, also corroborated Delesolu’s claim, saying the government must be commended for the gesture.

SOURCE - http://www.nigerianeye.com/2018/11/at-least-one-million-traders-have.html

GavelSlam:
Loans are of various kinds.

Are you expecting the woman selling ponmo to request 500k loans? For what business exactly?

It is not government's business to give loans. That's what the banks are for. Nevertheless, you cannot force banks to give loans and our banks are more interested in high profile, politically exposed persons.

Microfinance help small businesses and indeed homes move from small to medium.

From Wikipedia:
The Norwegian Nobel Committee said that "lasting peace cannot be achieved unless large population groups find ways in which to break out of poverty" 

https://en.m.wikipedia.org/wiki/Muhammad_Yunus

Even in advanced countries, till today, there are pay day loans, which aren't interest--free by the way.

Microfinance is truly a game changer in entrepreneurship.

djon78:
Do you guys even look at yourself

I asked before what is economic value iof 10k and some people are saying they were given 5k

You are giving someone a loan of 10k and 5k??

This is purely a socialist scheme simple

Mouth Gig:
SAI BABA...


GOD BLESS AND PROTECT BUHARI..

cute9ja:
Vice President Yemi Osinbajo has said that no fewer than one million traders have already benefited from the TraderMoni Scheme of the Federal Government.

“The first phase of the TraderMoni was targeted at two million petty traders across the country, but over a million have today benefited from the scheme,” the News Agency of Nigeria quoted Osinbajo as saying.

Osinbajo was in Bodija and Oje markets in Ibadan, Oyo State capital, on Thursday, during which he introduced the TraderMoni Scheme of the Federal Government to the traders.

He was accompanied by Oyo State Governor, Abiola Ajimobi, alongside other government officials.





According to the Federal Government, the TraderMoni is a collateral-free loan that ranges from N10,000 to N50,000, depending on how well the borrowers are able to make repayments.

All petty traders and artisans in Nigeria are eligible to access the loan, government said.

Osinbajo said, “We have observed that nobody wants to give these traders credit because lenders believe they won’t pay back.

“The market traders represented the most significant percentage of those who engage in commercial activities.

“Both the TraderMoni and the MarketMoni schemes seeks to address that large population or persons involved in commercial activities who usually don’t have access to credit.”

Some of the traders, who spoke to NAN at the markets, lauded the initiative of the Federal Government.

The Babaloja of Oje market, Mr. Saliu Delesolu, lauded the Federal Government for initiating the programme, saying it would enhance petty trading.

“This is the first time a government in this country will be extending credit facility to petty traders. We appreciate this and thank President Muhammadu Buhari for this.

“We assure our members that the money would go round. Not everybody could benefit from it at once but we have been assured that the programme will be institutionalised,” he said.

A petty trader, Mrs. Olajumoke Ajao, also corroborated Delesolu’s claim, saying the government must be commended for the gesture.

SOURCE - http://www.nigerianeye.com/2018/11/at-least-one-million-traders-have.html