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FG disburses loans to 4,000 GEEP MarketMoni beneficiaries in Edo

Edo State has recorded over 4,000 beneficiaries of the Government Enterprise and Empowerment Programme, GEEP.

VP Yemi Osinbajo, SAN

The Vice President, Prof. Yemi Osinbajo, disclosed this at Edo State’s edition of Micro, Small and Medium-Scale Enterprise, MSME, clinic in Benin City, weekend.

GEEP is one of the National Social Intervention Programmes, NSIP, of the current administration providing interest loans of between N10,000 and N100,000 to market women, farmers, artisans and enterprising youths nationwide.

The Bank of Industry is executing it.

Speaking at the event, Prof. Osinbajo said:  “The policy of the Federal Government is to support businesses, not just big business but particularly small, medium-sized businesses and micro-businesses.

‘’The whole idea is to ensure that we give whatever support whether it is cash, advice or even registration, to all our small and medium enterprises.”

He added that the Federal Government was rolling out TraderMoni, a new micro-credit scheme, to cater for ultra-micro enterprises.

“It is a different thing from MarketMoni because TraderMoni is for smaller traders. These are the hawkers, those who are doing little things where in many cases their inventory, the whole thing they are selling is sometimes not even more than N5,000- N10,000.”

 


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