Petty traders in Kaduna have started receiving N10,000 soft loans, an initiative of Federal Government, to boost their businesses.
A News Agency of Nigeria (NAN) correspondent who interviewed some traders who got the loan
on Thursday at Central Market Kaduna said it was the first assistance they ever received from
government.
The collateral-free loan, dispensed through Bank of Industry (BoI) is part of Federal Government’s National Social Investment Programme under the Government Enterprise and Empowerment Programme (GEEP) to reinforce government’s commitment to empower Nigerians at the grassroots.
Malam Abdulaziz Abdullahi who sells brooms and mop said he got the N10,000 loan, also known as “trader moni”, since last week and would use the money to boost his business.
Madam Asma’u Sambo, another beneficiary of the loan, said she was surprised when she received a congratulatory message on her phone, saying she had been credited with N10,000 on her mobile wallet.
She said “I am very happy, I just got my trader moni from the money agents and I will use the money to buy some items needed for my make-up business.”
Another beneficiary, Adam Idris, said he thought the initiative was just a “political” gimmick, but his opinion changed when he received the money two days after registration.
Hauwa Abubakar, who said she also registered two weeks ago, added that she had received the money, and would use it to boost her poultry business.
She commended the Federal Government for the initiative, saying it was fair and transparent.
Meanwhile, one of the agents disbursing the cash to the traders, said the exercise was going on smoothly as every registered trader would be entitled to the loan.
He added that the loan would be paid in installment, where a trader would pay N430 weekly for six months.
Meanwhile, the Vice President, Prof. Yemi Osinbajo, together with the Kaduna State Governor, Malam Nasir el-Rufai, were at the market to motivate traders to access the loan. (NAN)
