Osinbajo launch ‘TraderMoni’ Scheme in Ekiti
It was celebration galore as Vice President, Professor Yemi Osinbajo, launched MSME’s and TraderMoni, a component of the National Social Investment Programme (NSIP), in Ado-Ekiti, the State capital, promising the Federal Government unwavering supports for micro businesses across the country.
The Vice President, accompanied by Ekiti State Governor, Mr. Kayode Fayemi, and members of the state Executive Council at the launch, assured market men and women in Oja Oba Market, Ado Ekiti, Ikere Ekiti, and Omuo Ekiti, that traders would receive the sum of N10,000 as a start-up capital, which is an initiative of the Federal Government through the Bank of Industry (BOI), and Government Enterprise Empowerment Programme (GEEP) to fund micro businesses in the country.
Osinbajo, who was received by the jubilant crowd in all the markets visited, populated by traders who gathered from across the state, said the initiative is part of the Federal Government Social Investment Programme to boost the funding of micro and small-scale businesses and commercial activities.
He said the sum of N10,000 which is to be repaid in six months is targeted at small-scale business enterprises, market women and artisans. According to him, the beneficiaries are expected to meet up repayment deadline to enable them qualify for the next tranche ranging from N15,000 to N20,000. Assuring beneficiaries of more incentives for Micro, Small and Medium Enterprises (MSMEs). Governor Kayode Fayemi said his administration would continue to work closely with the Federal Government on several empowerment initiatives designed to enhance the welfare of Nigerians. The governor urged market men and women to take advantage of the funding window to scale their businesses and improve their welfare, noting that the scheme has come to stay in Ekiti State.
One of the beneficiaries, Mrs Bimbo Ojo, in an interview, expressed confidence in the administration of President Muhammadu Buhari, adding that the initiative, which is a rare privilege to petty traders, would go a long way to ameliorate the suffering of the downtrodden. She urged the Federal Government to sustain the scheme.
Earlier, Governor Kayode Fayemi and his wife, and members of the state Executive Council, received the Vice President at the Christ School, Ado Ekiti. Prof. Osinbajo, who was on a One-Day working visit to the state, also make a stop at Iworoko Ekiti, where he commiserated with the victims of the accident that claimed lives in the town, promising to assist the state government to avert such occurrences in the future.