The Vice President, Yemi Osinbajo, has launched the FCT TraderMoni programme, a collateral and interest-free loan scheme initiated by the Federal Government to assist petty traders across the country. According to Osinbajo, the scheme is aimed at spreading prosperity and reducing poverty, especially for petty traders in respective of their socio-political background.
In a statement by the Vice President’s spokesman, Laolu Akande, Osinbajo said that the programme is part of the Social Investment Programme of the Buhari administration. He explained that it has been launched in Lagos, Kano, Katsina, Abia, Osun states and would be extended, in quick succession, to traders in all the states of the federation by the end of 2018.
Speaking to traders at the Utako market shortly after witnessing the disbursement of funds to beneficiaries, the Vice President said every petty trader was eligible to benefit from the scheme and urged petty traders across the country to take advantage of the scheme to improve their businesses. He assured beneficiaries that the amount given to them would be increased if they paid back their loans within the stipulated period, adding that President Muhammadu Buhari himself was interested in the welfare of the traders.
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