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Oluremi Tinubu Launches Market Moni Scheme In Abuja [Here’s How You Can Benefit]

Published

12 months ago

Nov 23, 2023.

Eko Hot Blog reports the Nigeria’s First Lady, Oluremi Tinubu, has launched the targeted Expansion of the Market-Moni Scheme for 1.5 million vulnerable Nigerians.

The wife of the President flagged off the scheme at a ceremony held at the Conference Centre of the State House, Abuja.

During the event, Mrs Tinubu also presented cheques to some beneficiaries and charged beneficiaries of the interest and collateral-free loans scheme to invest their money well.

According to her, the present administration is ready to support Micro, Small, and Medium Enterprises (MSMEs) in the country to create a ripple effect for employment generation for Nigerians.

She said such support goes a long way in serving as a lifeline to those struggling to make ends meet while enhancing the overall well-being of individuals and families.

The transformative impact that MSMEs can have on the lives of the vulnerable ones in our society, she explained, cannot be overemphasized because enterprises are the bedrock of our economy.

Mrs Tinubu said MSMEs play a crucial role in fostering inclusive growth and providing tangible benefits to those who need it most, especially women and persons with disability.

She added that small-scale businesses provide a platform for economic empowerment of those with limited resources who can become self-reliant entrepreneurs with skills and a supportive environment.

She said: “It is in this regard the rebranding of the three components of this programme is significant. Thus, Tradermoni (now rebranded Owo Oja or Olilanya Ndi Nagbambo or Tallafin Sana’a); Farmermoni (now rebranded Owoagbe or Olilanya Ndi Oru Ugbo or Tallafin Manoma), and Marketmoni (now rebranded Iyaloja or Nne Ahia or Agajin Yan Kasuwa).

These rebranding drums home, especially among the womenfolk including traders and farmers, a deeper understanding and actual implication of the programme in our native languages.

“As I was informed that one of the strategic components of the Federal Government’s National Social Investment Programme (NSIP) is the Rebranded and Expanded Government Enterprise and Empowerment Programme (GEEP), this Programme is expected to focus, among others, on offering interest and collateral-free loans to small scale entrepreneurs thereby providing financial inclusion and enabling individuals with limited resources to access much-needed capital for entrepreneurial endeavours.

“This democratization of financial resources helps break down barriers and empowers the poor to participate actively in economic activities.”

How To Benefit

On her part, the Minister of Humanitarian Affairs and Poverty Alleviation, Betta Edu, said the market-moni scheme targeted at one and a half million beneficiaries across various states in the country would cover all the 109 senatorial districts.

The minister said one major market from each of the senatorial districts would be taken, adding that each beneficiary would receive interest and collateral-free loans of N50,000 after registration.

“We are at a point to lift 50 million Nigerians out of poverty.

“They will be registered in the market. Their BVN will also be registered in the market. It is taking governance to the people.

“As soon as they register, a loan of N50,000 will be given to them, to use for their businesses. The target for this is 1.5 million Nigerians that will benefit.

“We have other programmes that are within that bracket. Some of them are special projects targeted at Nigerians.

“I must say that Mr President is in a hurry to change Nigeria for better within the next one year.

“Other projects include the N-Power projects, the homegrown school feeding projects, the new special vehicle which is the End-Hunger project, by the Grace of God the President will be flagging that off next month.

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