Nigeria’s latest micro-credit schemes, TraderMoni and MarketMoni, are among the initiatives to incrementally lift Nigerians out of poverty, Vice President Yemi Osinbajo, has explained.
The Vice President stated at interactions with Nigerians across diverse backgrounds at Karu, Mpape and Kubwa, all satellite towns in the FCT.
He said more Nigerians would be lifted out of poverty if the is government re-elected for another term.
According to him, for the very first time in the history of this country, loans are being made available for petty traders, small traders.
“It is the love for the common man that informed this government’s decision to empower the poor.”
At Mpape community, Osinbajo told a gathering of artisans, women, community leaders and youths that the government of President Muhammadu Buhari was for the common people and had demonstrated same through the various empowerment schemes.
“There is MarkeMoni; there is TraderMoni; the TraderMoni is for the petty traders, the small traders, selling groundnut and other small businesses; we give them N10,000 when they repay, they get N15,000, N20,000 and on and on like that.
Explaining the rationale behind the micro-credit schemes of the Buhari administration, the Vice President said it was a step to help the traders move up.
“Because every one of us must start from somewhere; when you start poor, somebody must help you to become rich; if you are a small business woman, somebody will help so that you too will become a big business woman.”
Continuing, he said, “that is why President Muhammadu Buhari started this TraderMoni so that market women can grow their businesses gradually and after a while, they too will have enough money to be able to build their own houses and everything they want to do.
“The MarketMoni is for the bigger trader and artisans, it starts at N100,000, but you must be part of a cooperative in order to benefit from the MarketMoni.
“So, we are trying very hard, God helping us, if we are voted in, February 16, it’s the Next Level. Next Level for TraderMoni, for MarketMoni, for all the programmes that we are doing.”