• About
  • Advertise
  • Contact
Tuesday, July 22, 2025
  • Login
Vital News
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security
No Result
View All Result
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security
No Result
View All Result
Vital News
No Result
View All Result
Home Business

FG to give interest-free loan to 98,000 beneficiaries of GEEP

Vital News by Vital News
April 8, 2022
in Business
0
Share on FacebookShare on Twitter

By Jacinta Nwachukwu

Abuja – The Federal Government says it has concluded plans to give interest-free loan to 98,000 beneficiaries of its Government Enterprise and Empowerment Programme (GEEP) 2.0 nationwide.

Sadiya Umar-Farouq, the Minister of Humanitarian Affairs, Disaster Management and Social Development disclosed this in a statement by Nneka Anibeze, her Special Assistant on Media in Abuja on Wednesday.

Umar-Farouq said that this decision was reached following the final verification of Phase 1 applicants, who qualified and were selected to benefit from small loans ranging from N50,000 to N300,000.

She further said that all the beneficiaries of GEEP 2.0 would receive congratulatory and sensitisation text messages in the coming days informing them of their qualification.

RelatedStories

Africans In Position To Develop Africa, Dangote Tells Global CEOs

Kogi Enterprises Devt. Agency Moves To Boost Growth Of MSMEs, Signs MoU With CAREC

Dangote Moves To Revolutionise Nigeria’s Capital Market, To List Fertiliser Company On NGX

13 Years After Existence, Kwara Dissolves Harmony Holdings

According to Umar-Farouq, the money given to the beneficiaries of the empowerment programme is a loan and not a grant and must be repaid within nine months.

“The GEEP 2.0 is a loan scheme designed by the Federal Government to provide financial inclusion and give credit access to the poor and vulnerable individuals including persons with disabilities.

“It also covers persons at the bottom of the economic pyramid, who are engaged in small scale commercial activities under its three flagship schemes.

“These three flagship schemes are MarketMoni, TraderMoni and FarmerMoni.

“Tradermoni targets uplifting under-privileged and marginalised youths aged between 18 and 40 years in Nigeria by providing them with loans of N50,000.

“MarketMoni targets under-privileged and marginalised women aged between 18 and 55 years like widows, divorcees among other vulnerable groups and they get interest-free loans of N50,000 payable within six to nine months.

“While FarmerMoni is for Nigerian farmers aged between 18 and 55 years in rural areas that operate in the agricultural space,’’ she explained.

The minister said that these farmers were provided with loans of N300,000 for farm inputs, adding that the scheme had 12 months including three months moratorium and nine months repayment period.

“All qualified beneficiaries will soon receive their disbursement alerts. We wish to remind all qualified beneficiaries that this is a loan payable without interest.

“It is not a grant or a government windfall. It is a soft interest-free loan that must be paid back within nine months,’’ she said.

Umar-Farouq said that the Ministry was planning a roll – out of the programme nationwide after which an enumeration exercise to capture beneficiaries’ bio-data would take place.(NAN/vitalnews)

Tags: beneficiariesGEEPloansnationwide
Previous Post

IGP appoints new police Commissioners for Edo, Kaduna, Adamawa, Imo

Next Post

UNHCR to step up collaboration in promoting “Zakat” almsgiving in Nigeria

Vital News

Vital News

RelatedStories

Africans In Position To Develop Africa, Dangote Tells Global CEOs
Business

Africans In Position To Develop Africa, Dangote Tells Global CEOs

July 14, 2025
Kogi Enterprises Devt. Agency Moves To Boost Growth Of MSMEs, Signs MoU With CAREC
Business

Kogi Enterprises Devt. Agency Moves To Boost Growth Of MSMEs, Signs MoU With CAREC

July 3, 2025
Dangote Moves To Revolutionise Nigeria’s Capital Market, To List Fertiliser Company On NGX
Business

Dangote Moves To Revolutionise Nigeria’s Capital Market, To List Fertiliser Company On NGX

June 26, 2025
Kwara To Administer Drug Test On 1,800 Newly Recruited Teachers
Business

13 Years After Existence, Kwara Dissolves Harmony Holdings

June 26, 2025
President Tinubu Signs Tax Reform Bills Into Law
Business

President Tinubu Signs Tax Reform Bills Into Law

June 26, 2025
Next Post

UNHCR to step up collaboration in promoting “Zakat” almsgiving in Nigeria

VET-Toolbox, Julius Berger to train 1,000 cashew farmers in Nigeria

NGO calls for “holistic” national youth policy

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Follow Us

Recommended

We Are Committed To Celebrating Our History, Culture Heritage – Abiodun

We Are Committed To Celebrating Our History, Culture Heritage – Abiodun

2 years ago
Man Beats 22-Year-Old Girlfriend To Death In Bayelsa

Arase Blames Police, PSC Faceoff On Communication Gap

2 years ago
Osun Gov Poll : Tribunal Fixes Friday, January 27 For judgement In Oyetola Vs Adeleke Petition

Osun Gov Poll : Tribunal Fixes Friday, January 27 For judgement In Oyetola Vs Adeleke Petition

2 years ago
NJC Formally Recommends Kudirat Kekere-Ekun For Appointment As Chief Justice of Nigeria

President Tinubu Swears In Justice Kudirat Kekere-Ekun As 23rd Chief Justice of Nigeria

11 months ago

Instagram

    Please install/update and activate JNews Instagram plugin.

Categories

  • Agriculture/ Water/ Mineral
  • Aviation
  • Business
  • Crime
  • Culture
  • Economy
  • Education
  • Entertainment
  • Environment
  • Football
  • Foreign
  • Gender
  • Health
  • Judiciary
  • Labour
  • National
  • News
  • Oil & Gas
  • Opinion
  • Opinion
  • Politics
  • Power
  • Religion
  • Security
  • Sports
  • Transport
  • Uncategorized

Topics

Abiodun Abuja APC arrest Atiku Bandits Bello Benue Buhari CBN Court Dangote death dies drugs Economy EFCC Election elections FG gunmen Hajj INEC Kano kidnap Kill Kogi Kwara Lagos NDLEA Niger Nigeria Ododo Ogun Oyo PDP Police Power refinery rescue road Security Senate students Tinubu
No Result
View All Result

Highlights

Senate Debunks Reports On Creation Of New States

EFCC Presents More Witnesses In Ex-Kwara Gov. Ahmed’s Alleged N5.78bln Fraud Trial

2027 : Osun PDP Adopts President Tinubu, Gov. Adeleke As Candidates

At Whose Instance Are You Here On Earth? by Taiye Olaniyi

Kogi Moves To Combat Acute Malnutrition Among Children, Flags Off Training Of 10,000 Health Workers

NOGASA Expresses Concern Over Dangote’s Direct Fuel Supply Plan To End Users

Trending

NDLEA, Police Service Commission Agree On Need To Conduct Drug Integrity Test For New Recruits
National

NDLEA, Police Service Commission Agree On Need To Conduct Drug Integrity Test For New Recruits

by Vital News
July 22, 2025
0

The Police Service Commission has asked for the support of the National Drug Law Enforcement Agency (...

Senate Confirms FG’s Readiness To Pay N-POWER Beneficiaries N81billion Backlog Allowances

Senate Confirms FG’s Readiness To Pay N-POWER Beneficiaries N81billion Backlog Allowances

July 22, 2025
Dangote Spends N720bln To Acquire 4,000 CNG Trucks, Begins Free Distribution Of Fuel August 15

Africa Losing $90bln Annually To Importation Of Substandard Fuel, Dangote Laments

July 22, 2025
Senate Debunks Reports On Creation Of New States

Senate Debunks Reports On Creation Of New States

July 22, 2025
EFCC Presents More Witnesses In Ex-Kwara Gov. Ahmed’s Alleged N5.78bln Fraud Trial

EFCC Presents More Witnesses In Ex-Kwara Gov. Ahmed’s Alleged N5.78bln Fraud Trial

July 22, 2025
ADVERTISEMENT
Vital News

Vital News is an online newspaper with a mission to uphold professional journalism by reporting and publishing only facts and figures-based news reports across Nigeria and beyond.

Recent News

  • NDLEA, Police Service Commission Agree On Need To Conduct Drug Integrity Test For New Recruits July 22, 2025
  • Senate Confirms FG’s Readiness To Pay N-POWER Beneficiaries N81billion Backlog Allowances July 22, 2025
  • Africa Losing $90bln Annually To Importation Of Substandard Fuel, Dangote Laments July 22, 2025

Categories

  • Agriculture/ Water/ Mineral
  • Aviation
  • Business
  • Crime
  • Culture
  • Economy
  • Education
  • Entertainment
  • Environment
  • Football
  • Foreign
  • Gender
  • Health
  • Judiciary
  • Labour
  • National
  • News
  • Oil & Gas
  • Opinion
  • Opinion
  • Politics
  • Power
  • Religion
  • Security
  • Sports
  • Transport
  • Uncategorized

© 2022 Vital News - . All Rights Reserved.

No Result
View All Result
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security

© 2022 Vital News - Vital News by Vital News.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In