The Vice President, Prof Yemi Osinbajo in partnership with Government Enterprise and Empowerment Programme (GEEP) implementation partner, Bank of Industry held interactive town hall meetings in markets in Keffi and Masaka with beneficiaries of MarketMoni and TraderMoni on Tuesday. He was accompanied by the Governor of Nasarawa state, Abdullahi Sule and the Minister of State for Science and Technology, Mohammed Hassan Abdullahi.
Prof Osinbajo restated the commitment of President Buhari in providing collateral- and interest-free loans to traders and artisans across Nigeria. He explained that these loans will not only help the beneficiaries expand their businesses but improve their livelihood. He expressed his joy at seeing market people repaying their loans and promised to do more.
In his words: “So long as you continue to pay back, you will continue to get more money. We want to make sure that every petty trader in the market has enough so that they themselves can even employ more people and pay their children’s school fees and also build their own houses.”
Executive Director, Bank of Industry, Mrs. Toyin Adeniji assured the traders that funds will be disbursed to all successful TraderMoni and MarketMoni applicants. She noted with delight that about 3,000 people across Keffi, Toto and Akwanga local government areas of the state had been registered in the last three days.
Speaking earlier, Governor Sule commended the federal government for its commitment to the traders and artisans in Nasarawa state acknowledging that the facility will contribute to the economic prosperity of the state. He advised beneficiaries to utilise the funds judiciously to expand their businesses and create employment.
The town hall meetings which were well attended by petty traders and artisans provided an opportunity for beneficiaries to share their experiences and expectations of the programme.
MarketMoni beneficiary, Lawal Nkoyo who sells sewing materials in Karishi explained that the loan helped in stocking her shop with more materials. This in turn improved her cash flow and made it easy for her to repay the loan in installments. She said the additional funds will be invested in the business.
In a similar vein, TraderMoni beneficiary, Sabiu Bashir, a vegetable seller in Keffi Main Market said he will use the loan to buy more produce to add to his business. He thanked the government for remembering the market people expressing his pride of being a Nigerian and promised to repay the loan.
As part of his visit to Nasarawa state, the Vice President made a courtesy call at the palace where he was warmly received by the Emir of Keffi, Alhaji Shehu Yamusa. He explained that GEEP products (MarketMoni, TraderMoni, FarmerMoni) are aimed at lifting millions of Nigerians out of poverty.
He also paid a visit to the family home of a MarketMoni beneficiary, Mrs Esther Bernard Ugweze who prior to receiving the loan was baking and hawking puff puff. As a mother and the sole breadwinner of her home, she was unable to support her family with her meagre income. After receiving training from the church on making soaps and disinfectants, she decided to diversify her trade but lacked the capital to start up. Although hesitant in the beginning, she registered for the MarketMoni loan and used the funds to kick start the business which has now employed several sales people to distribute the cleaning products. She said she was able to repay the loan fully and also used the profits to take care of her children’s education. She thanked the government for the initiative and spoke excitedly about expanding her business further.
