More Nigerians Can Now Access no-cost Loans to Start-up Businesses-Minister

Business

Hadiza Abdulrahman FRCN

The Government Enterprise and Empowerment Programme GEEP has been restructured to enable More Nigerians to access no-cost loans to start up their businesses.

The Minister of Humanitarian Affairs Disaster Management and Social Development, Hajiya Sadiya Umar-Farouq said the money will create employment and in turn reduce poverty.

Hajiya Sadiya added that the move was to better reposition the program for effective social inclusion to ensure critical members of the society are not left out.

’The GEEP 2.0 is well-coordinated and has an implementation model that accommodates representation at the Federal, State, and Local Government levels. Part of the new strategies include an increase in the loan portfolio of 7raderMon/ and Market Moni loans from N10,000.00 to N50,000.00, while the FarmerMoni is now N300,000 along with the provision of the value chain and creation of digital marketplace (E-platform) for beneficiaries to sell their products’’

The Team Lead of the Programee, Zainab Musawa who gave an overview of the scheme said 2.3 million people had so far benefitted. 

‘’For the past five (5) years, the GEEP programme has been able to target, and deliver credit to over 2.3 million people under the MSMEs demographic using Biometrics, Therefore, after evaluating the impact of GEEP programme as a whole, it became mandatory to refocus and restructure to GEEP 2.0. ‘’

The Focal Person of Abia State Chinenye Nwaogu who spoke on behalf of other Focal Persons stressed the need for the intervention to get to the right people.

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