The official launch of GEEP 2.0, the Government Enterprise Empowerment Programme, has begun across the nation.
At the weekend, Katsina state’s Daura Kasuwar Kofar ‘Yan Kudu market hosted the national phase of the program’s debut by Sadiya Umar Farouq, minister of humanitarian affairs, disaster management, and social development.
Minister Umar Farouq stated that the interest-free loans to beneficiaries were in keeping with President Muhammadu Buhari’s declared commitment to combat poverty and its terrible effects from all angles at the presentation of Cheques to peasant farmers and small business women.
When presenting checks to small business owners and peasant farmers, Minister Umar Farouq stated that the beneficiaries’ interest-free loans were in keeping with President Muhammadu Buhari’s stated commitment to combating poverty and its terrible effects.
“The Government Enterprise and Empowerment Programme (GEEP) is a programme designed by President Muhammadu Buhari’s administration to create further opportunities for the poor, vulnerable and low-income Nigerians, especially those who are involved in viable informal productive activities with limited financial requirements but have never had access to loans from the formal financial sector.
“It is meant to give priority to the most vulnerable in our society like widows, youth, Persons With Disabilities and the Internally Displaced Persons amongst others”.
In total, 59,161 potential beneficiaries were registered across the 34 LGAs of Katsina State, but only 13,000 of them were validated and approved to receive interest-free loans during the program’s first phase, and new registration has not yet started. More vulnerable individuals and groups are anticipated to openly register at National Orientation Agency offices by GEEP trained Desk Officers across the 774 LGAs Nationwide during the 2nd phase of registration for the year 2022, which the Ministry will publicly announce.
The Minister said that the recipients could be verified and that a transparent selection process had been followed.
“These selected beneficiaries are now all banked, they have been given ATM cards and are currently being enumerated all of which are our deliberate efforts to enhance financial inclusivity of our poor in a sustainable manner”.
Three distinct items are part of GEEP 2.0.
MarketMoni loan of N50,000 is for the poor and marginalized women, such as widows, divorcees, and other vulnerable groups, while Trader Moni loan of N50,000 is for the disadvantaged and marginalized adolescents between the ages of 18 and 40 years.
Small-scale farmers in the communities can apply for a FarmerMoni loan of between N50,000 and N300,000 to increase their agricultural production and inclusion in commercial farming.
The National Roll-Out announces the simultaneous introduction and disbursement of loans across all states.
NNEKA IKEM ANIBEZE
SA MEDIA
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Source: Nyscinfo