FG Begins Distribution Of Tradermoni, Farmermoni, Market Moni In Oyo
The Federal government has begun the distribution of grants to beneficiaries of tradermoni, farmermoni and Market Moni under its social investment scheme Tagged Government Enterprise and Empowerment Programme (GEEP 2.0) in Oyo state.
GEEP is a programme designed by President Muhammadu Buhari’s administration for vulnerable and low-income Nigerians who are involved in commercial activity but have no opportunity to access loans.
Minister of humanitarian affairs, disaster management and social development, Hajia Umar Farouq while speaking at the Flag Off ceremony in Ibadan said each beneficiaries under tradermoni would get 50,000 naira loan while farmermoni beneficiaries get a loan up to three hundred thousand naira
The Minister represented by the Director Human Resources in the Ministry, Mr Rufai Tokunbo said 42,434 potential beneficiaries were registered in Oyo State across the 33 LGAs in the first phase of the GEEP Programme noting that 11,978 beneficiaries were eventually selected.
“GEEP is captured in three signature schemes namely the TraderMoni loan of N50,000, targeted towards uplifting under-privileged and marginalized youths between the ages of 18-40 years in Nigeria, MarketMoni an empowerment programme designed for under privileged and marginalized women in our society specifically targeted towards Female headed households e.g., widows, divorcees amongst other vulnerable groups, then the FarmerMoni loan scheme which is equally designed to provide agricultural inputs worth up to a maximum of N300,000 to rural farmers.”
Speaking at the event, Special Adviser to the Oyo state governor on Intervention, Mrs Aderonke Adedayo applauded the federal government for the gesture.
Mrs Adedayo who noted that the present government has done well in terms of welfare and social investment for its citizenry urged people to support government on its people oriented policies.
Earlier in an address, head of programme, National Orientation Agency, NOA, Dr Olukemi Afolayan said the agency had earlier sensitized beneficiaries on the need to judiciously use the funds to reduce poverty in the country.