Not less than 10,000 traders in several markets in Bayelsa state have benefited from the federal government’s tradermoni free interest loan empowerment scheme, declared an official.
The officer in charge of strategy and operations in the Government Enterprise and Empowerment Programme (GEEP), Taiwo Tunmobi, on Thursday made this known in Yenagoa at the end of the exercise. Tunmobi disclosed that over 20,000 traders registered earlier for the programme but in the first batch of beneficiaries 10,000 were considered.
As reported by the News Agency of Nigeria (NAN), the federal government delegation went to major markets in the state capital, which includes Tombia-Etegwe roundabout, Okaka market and others while disbursing to the 10,000 persons shortlisted for the scheme, N10,000. He further urged the beneficiaries to make good use of the money and ensure that they pay back at the stipulated time to enable government to do more for them.
The GEEP officer said, two options are available to the beneficiaries in repaying the loan after two weeks – either to make daily payment of N85.00 or N430.00 weekly payment to the tradermoni account of the Federal Government in any bank of their choice.
“Those who finish the repayment of their first loan on time stand the opportunity to receive higher amount of N15,000 and so on. Of course, our targets are micro business SMEs; these are people who typically have zero access to credit.”
“As the government helps them to grow their businesses, their families will benefit and the economy will also benefit,” Tunmobi added.
Some of the beneficiaries expressed their appreciation to the federal government for the gesture. Felicia Okwodejo, the chairman of Tombia-Etegwe roundabout market, thanked the government and the organisers for selecting her as a beneficiary. She urged beneficiaries to ensure that they pay back the money as and when due.
In other news, it was reported previously by Legit.ng that the office of the vice president Yemi Osinbajo had debunked reports that Tradermoni scheme ended with the elections. The spokesperson for the vice president, Laolu Akande, made it known that the scheme and other projects are components of the President Buhari-led administration.