FG launches TraderMoni scheme in Lagos

The federal government, yesterday, launched the TraderMoni scheme in Lagos.

Vice President Yemi Osinbajo, inaugurated the TraderMoni scheme at Ketu, Bariga and Oshodi markets of Lagos State.

The Senior Special Assistant to the President on Media and Publicity, Office of the Vice President, Laolu Akande, in a statement said more than 809,000 petty traders have so far benefitted from the TraderMoni initiative.

TraderMoni, which is part of the federal government’s Social Investment Programme (N-SIP), is designed to assist petty traders across the country expand their trade through the provision of collateral and interest-free loans ranging from N10,000 and above. The loans are repayable over a period of six months.

The scheme, formally launched in 33 states and the FCT, is expected to reach about two million petty traders by the end of the year.

Vice President Yemi Osinbajo said that the focus of the Buhari administration, from the outset, was to empower young people, and ensure that the resources of the country are used for the benefit of all Nigerians instead of a few individuals.

According to him, our focus from the beginning of the administration is that there must be jobs, enough resources for young men and women to be able to do their work and to contribute their quota to Nigeria’s growth.

“That is why the President started the N-Power programme, the Market Moni programme and TraderMoni; that is the reason why the President said that we must have Home-Grown School Feeding programme, to provide opportunities for people,” he said.

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