Vice President Yemi Osinbajo on Monday in Iwo, Osun State declared that President Muhammadu Buhari has outperformed every Nigerian leader on economy in the history of the country.
Osinbajo stated this during the launch of ‘TradeMoni’, a social intervention programme which is an initiative of the Federal Government, through Bank of Industry, BOI, and Government Enterprise and Empowerment Programme/GEEP.
Explaining the initiative at the event, Prof. Osinbajo said the programme aimed at funding micro business in the country.
Osinbajo said: “TraderMoni scheme, is targeted at petty traders, market women, artisans and small scale business enterprises to cater for ultra-micro enterprises.
“The policy of the Federal Government is to support businesses, not just big business but particularly small, medium-sized businesses and micro businesses. The whole idea is that we want to ensure that we give whatever support to people to alleviate their businesses.
“For instance, if we give you N10,000 and refund within six months then you are qualified to collect N15,000. If you pay back the sum of N15,000 you are qualified to get N20,000.”
Also joining Prof. Osinbajo to speak at the launch, the Executive Director, Bank of Industry BOI, Mrs. Toyin Adeniji said that no fewer than 30,000 beneficiaries would have access to the loan
She, however revealed that only 10,000 would be captured in the first phase.
“Our agents have already met the market women at their point of sales to register them, they would get the money and pay it back immediately through Mobile Wallet,” Mrs Adeniji said, noting further that “many people have started receiving the alert.
“Under ‘TraderMoni’ traders don’t need any document or property to collect N10, 000 loan from the Federal Government.”