Categories: Business and Banking

Jubilation at Utako market as Osinbajo inaugurates TraderMoni

There was jubilation at Utako market, Abuja, on Thursday as the Vice President, Prof. Yemi Osinbajo, inaugurated the TraderMoni scheme.

TraderMoni is a Federal Government’s initiative aimed at providing two million petty traders across the country with collateral-free loans before the end of the year.

The ecstatic traders cheered and hailed as the vice president went from stall to stall having one-on-one conversations with the sellers.

Addressing the crowd, Osinbajo, who spoke partly in Pidgin English, said that with TraderMoni, petty traders would be empowered.

“The small small traders, no be big traders; na small small traders we wan give money; make them able to sell well; have more money to sell.

“We give N10,000; if pay back in six months, then you get N15,000; if you pay back, you get N20,000

“We want to encourage petty traders so that they will have enough money to do their businesses; we have done one before for the bigger traders, that one is Government Enterprise and Empowerment Programme(GEEP), N100,000 to 120,000.

“If you do well with the N10,000, N15,000, N20,000, then we can increase it; everyone can benefit from this; the president himself has said he wants to make sure that those who are selling in the market:selling pepper, sugarcane, tomato get the money.

“So, when you are given the money, we urge you to make sure you pay back; there is no interest; you just take it and you pay back in six months; I want all of us to make sure we register so that we can be given the money,” he said.

TraderMoni, which had Lagos, Abia and Kano as its pilots states, would be inaugurated across the country.(

Jubilation at Utako market as Osinbajo inaugurates TraderMoni was last modified: September 6th, 2018 by Francis Belux
Francis Belux

Share
Published by
Francis Belux
Tags: osinbajoTradermoni

Recent Posts

2019: What I will never allow Tinubu to do – Saraki

In a leaked audio clip, Nigeria's Senate President, Bukola Saraki was heard vowing that Kwara State will never take instructions…

40 mins ago

BREAKING: APC thugs attack Akwa-ibom house of assembly (PHOTOS)

The Akwa Ibom State House of Assembly is currently under attack by alleged APC thugs. Reports indicate that a former…

59 mins ago

Buhari reveals what will set Nigeria ablaze in 2019 (DETAILS)

President Muhammadu Buhari has warned politicians to conduct their electioneering with decorum and avoid setting the county ablaze. “We have…

1 hour ago

Trouble hits PDP as Atiku’s Policy plan extends to Second Term

There was anxiety yesterday in the Peoples Democratic Party (PDP) following the discovery that the policy plan of its presidential…

2 hours ago

NASS: I will sponsor 10 bills in 100 days — AD Candidate

Aremo Hassan, the 2019 Alliance for Democracy (AD) Candidate for Eti-Osa Federal Constituency, Lagos State, on Monday pledged to sponsor…

2 hours ago

Gov. Okorocha urges African beauties to fight poverty, illiteracy

Gov. Rochas Okorocha of Imo has called on beauty pageants organisers to make the crusade against illiteracy and poverty their…

13 hours ago