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FG Rolls Out Interest-free Loans to Support Small Businesses and Farmers

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Nigerians running small businesses and farms have been handed fresh relief as the Federal Government announced a new round of interest-free loans under the Government Enterprise and Empowerment Programme (GEEP). The scheme is designed to give small traders, women in business, and farmers the financial support they need without the usual stress of collateral or high interest.

According to officials, beneficiaries will be able to access loans ranging from as little as ₦5,000 to as much as ₦100,000, depending on their line of work. The loans come with a six-month grace period before repayment starts, giving recipients time to put the money to work and make returns before paying back.

The initiative is broken down into three categories: TraderMoni for young and small petty traders, MarketMoni for women entrepreneurs and market women, and FarmerMoni which will support those in farming, poultry, livestock and aquaculture. The first phase of this rollout will focus on smallholder farmers before extending to other groups.

For many Nigerians, especially those at the bottom of the economic ladder, accessing bank loans has always been a struggle because of strict requirements and high interest rates. This programme takes away that barrier by offering loans with no collateral and no interest. By doing so, the government hopes to lift millions into financial stability and help them grow sustainable businesses.

The government says the programme will be closely monitored to avoid abuse. Traders’ associations, local cooperatives, and community desk officers will play a key role in identifying real beneficiaries across the 774 local government areas.

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‘My Reforms Have Stabilised Nigeria’s Economy’ — President Tinubu

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President Bola Ahmed Tinubu has stated that his administration’s economic reforms have helped stabilise Nigeria’s economy and placed the country on a path toward steady growth.

He said “My reforms have stabilised Nigeria’s economy and put it on a path of steady growth.”

The President added that the reforms are creating more opportunities for development across the country.

However, many Nigerians reacted online, with some questioning the impact of the reforms and saying they have yet to experience the positive effects.


 

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Nyesom Wike Says He Knows Civil Servants Don’t Like Him

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Nigerian politician and FCT Minister, Nyesom Wike, has said that he is aware many civil servants do not like him.

He shared that he understands why he is unpopular among some civil servants, explaining that funds previously spent on unnecessary conferences are now being redirected to road construction projects.

He said “Some people say conferences for corruption and I say what is that? You are going for conferences to do what? These are ways government funds are being diverted. I say put this money in this road here and the people will get the impact.”


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FG Clears the Air on Rumours of Adire Replacing NYSC Uniform

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The Federal Government of Nigeria has reacted to rumours claiming it has approved Adire as the new fabric for the NYSC uniform.

It can be recalled that the Federal Government recently announced plans to review the NYSC uniform, which sparked speculation online that Adire had already been selected as its replacement.

However, the government has clarified that no final decision has been made regarding the new uniform.

“I mentioned Adire during the discussion. I also mentioned Ankara. My intention was simply to cite examples of some of the proposals that have been put forward in the course of our consultations. It was not an announcement that any particular fabric has been adopted or approved to replace the current NYSC uniform.”


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