By Gabriel Olawale
LAGOS—Vice President, Prof. Yemi Osinbajo, has launched the Federal Government’s N10,000 interest free loans, otherwise known as TraderMoni in three more Lagos markets.
Osinbajo who led other Federal and state government officials to Ikotun, Igando and Ile Epo markets urged the traders to make judicious use of the loans to secure more from Federal Government.
Interacting with the traders, Osinbajo said the objective of the scheme would be defeated if traders do not repay the loan to secure more.
“This is one initiative this administration has put in place to address the plights of those at the grassroots. To help you grow your businesses and make lives meaningful to you and your families. That’s why we ensure there is no collateral and when you repay the loans, you can secure more from government because it shows you are serious with what you are doing,” he said.
Some of the traders who spoke to Vanguard Newspaper applauded the gesture but pleaded for more loans saying they would be willing to boost their trades and businesses with as much funds as possible made available to them.
Kemi Adebayo, a pure water dealer in Ikotun market expressed readiness to invest the money in her trade. She said although she would love the money to be increased, “I will make judicious use of the fund to qualify for more loans.
Similarly, Kunle Olaifa, a rice seller at Igando said it took the arrival of TraderMoni officials in the market for him to be convinced that it was really.
“When they say TraderMoni, I always thought it was one of these political gimmicks. But today, I am convinced it is real. If I can repay the loan given, I have been assured of prompt additional money,” Olaifa said.