By Tina George, Minna
The Federal Government in collaboration with the Bank of industry has disbursed the sum of N300 million to 30,000 petty traders in Niger State.
The programme through Tradermoni is part of government effort to reinvigorate the economy of petty traders across the country as two million petty traders are being targeted.
The Programme Supervisor, Adenle Adedotun, disclosed this to newsmen at the take off of the disbursement at Tunga market said the loan has been disbursed in over 16 states in the country
Adedotun explained that Tradermoni is a project introduced by the federal government aimed at empowering petty traders with the sum of N10,000 to start a business of their choice.
He further explained that after paying back the N10,000 with interest of N250 within the the interval of six months the trader can access to higher amount adding that the traders can get additional loans of N15,000 to N20,000 after the payment of the first loan collected.
Adedotun urged petty traders across the country to utilize the opportunity to boost their trade.
One of the beneficiaries, Zinab Mohammed who sells food produce in Tunga market said that she had registered for the credit scheme but was yet to receive the money promising to utilize the money judiciously when given and pay back in due time.
However, criticism has followed the programme as most traders who spoke to our Reporter said the loan was minute and would have little impact on their market especially with the increase in goods.
A food vendor, Mohammed Gana said the N10,000 loan would have little impact on his business but he intends to utilize the opportunity as it is better than nothing pledging to repay in due time.
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