350,000 small businesses benefit from FG’s interest-free loans

350,000 small businesses benefit from FG’s interest-free loans
small businesses in Nigeria

350,000 small businesses benefit from FG’s interest-free loans – NO fewer than 350,000 micro enterprises across the 36 states of the federation have benefited from the Federal Government Enterprise and Empowerment Programme, GEEP, MarketMoni scheme.

Executive Director, Bank of Industry, BoI, Mrs. Toyin Adeniji, told newsmen at the Kano edition of Micro Small and Medium-scale Enterprises, MSME, clinic that GEEP MarketMoni was a Federal Government Social Intervention Programme, SIP, that provides interest-free loans of N10,000 to N100,000 to micro-enterprises, the segments of society with the greatest difficulty accessing credit.

Adeniji revealed that under the GEEP MarketMoni scheme, BOI had given out more than 350,000 microcredit loans across the country.

Speaking at the event, Special Assistant to the Vice President on MSME, Tola Johnson, said: “The best thing that has happened to micro-businesses in Nigeria is the GEEP MarketMoni programme.”

Johnson added that of the 37 million small businesses in Nigeria, 36.9 million were micro-enterprises.

Earlier, Head of Agent Networks, Sherifat Abdullahi, who interacts with agents, association heads and beneficiaries, said: “Apart from the 350,000 direct beneficiaries, GEEP has created employment opportunities for over 5,000 Nigerians who act as MarketMoni agents, some of whom are graduates, previously unemployed.”

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