Connect with us

Business

TraderMoni, FarmerMoni; all the economic relief pronouncements in Buhari’s COVID-19 speech

Published

on

Beneficiaries of government-backed microcredit schemes –TradeMoni, MarketMoni and Farmer Moni –will proceed on a three-month loan repayment holiday as succour for the harsh economic conditions induced by the coronavirus plague.

President Muhammadu Buhari, in his address to the nation Sunday evening, announced the much-needed relief in Abuja.

He equally granted similar moratorium to all loan facilities funded by the Federal Government and disbursed by the Bank of Industry, Bank of Agriculture and the Nigeria Export Import Bank.

“For on-lending facilities using capital from international and multilateral development partners, I have directed our development financial institutions to engage these development partners and negotiate concessions to ease the pains of the borrowers,” Mr Buhari said.

READ ALSO: We have enough fuel to go round for 60 days —NNPC

He also highlighted the government’s conditional cash transfer scheme. He said the most vulnerable Nigerians would paid for two months going forward.

Plans are equally afoot to deliver two months of food rations to Internally Displaced Persons in the weeks ahead, the president said.

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now