The presidency has said Trader
Moni, a scheme to provide small funds for petty traders in Nigeria, is still
on, and would reach 10 million petty traders in the country.
Laolu Akande, a senior special
assistant to Vice-President Yemi Osinbajo, made this disclosure late Wednesday,
saying the government has continued giving the loans since the All Progressives
Congress (APC) won the elections.
The presidency and the APC have
been accused of buying votes under the guise of Trader Moni, and since winning
the election, the scheme had been suspended.
But Akande said this is not the
case, stating that 30,000 new traders have benefitted from the funds since the
conclusion of the election.
“Trader Moni, the
interest/collateral free N10,000 loans for petty traders is on course. Ignore
reports to the contrary,” Akande said.
“In fact since after the
elections, about 30,000 new loans have been given across ten states. Also since
traders have started repaying, N15,000 disbursements have also commenced to
petty traders in Lagos, Borno, Ogun & Oyo States.
“Recall that with Trader Moni
once the initial N10,000 is repaid, the trader gets another N15,000, and then
N20,000 up until about N100,000 loan.
“The Buhari administration is
committed to this scheme and in the Next Level Implementation ten million Nigerian
petty traders would benefit, i.e. a significant increase from the initially
planned two million beneficiaries. And this is for all the 36 States and the
FCT.”
The vice-president, who took the
scheme to major markets across the nation before the elections, has since
stopped the nationwide travel since the conclusion of the elections.
Trader Moni is an Empowerment
Scheme of the Federal Government created specifically for petty traders and
artisans across Nigeria
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