FG lists 98,000 Nigerians for interest-free loans

The Federal Government has selected 98,000 Nigerians for interest-free loans in the country.

The Minister of Humanitarian Affairs, Disaster Management and Social Development, Sadiya Umar-Farouq, disclosed this in a statement issued by her Special Assistant on Media, Nneka Anibeze, on Wednesday in Abuja.

The loans, according to Farouk, range from N50,000 to N300,000.

She said the loans were given as part of the federal government’s Enterprise and Empowerment Programme 2.0 nationwide.

The minister said: “The GEEP 2.0 is a loan scheme designed by the Federal Government to provide financial inclusion and give credit access to the poor and vulnerable individuals including persons with disabilities.

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“It also covers persons at the bottom of the economic pyramid, who are engaged in small scale commercial activities under its three flagship schemes.

“These three flagship schemes are MarketMoni, TraderMoni and FarmerMoni.

“Tradermoni targets uplifting under-privileged and marginalised youths aged between 18 and 40 years in Nigeria by providing them with loans of N50,000.

“MarketMoni targets underprivileged and marginalised women aged between 18 and 55 years like widows, divorcees among other vulnerable groups and they get interest-free loans of N50,000 payable within six to nine months.

“While FarmerMoni is for Nigerian farmers aged between 18 and 55 years in rural areas that operate in the agricultural space.”

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