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FG Rolls Out Interest-free Loans to Support Small Businesses and Farmers
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.
It was reported that former Nigerian president Goodluck Jonathan has allegedly purchased a presidential candidate form for the 2027 elections.
It can be noted that Jonathan served as Nigeria’s president from 2010 to 2015.
This information was revealed by Sani Useni, a special assistant who made the claim. Many reacted to the news, with some expressing interest in seeing Jonathan return to power after staying relatively quiet politically since his administration ended.
However, Jonathan has not yet addressed the public or officially shared any presidential ambition.
The Christian Association of Nigeria (CAN) has reacted to the recent abduction incident in Oyo State.
It can be recalled that schools were attacked by armed men, with some teachers and students reportedly taken. Some people were also killed during the attack.
CAN cried out on behalf of the public, stating “It is intolerable, disgraceful and utterly unacceptable that Nigerian children can no longer sit safely in classrooms without the fear of being kidnapped by armed gangs.”
The organisation also stated that Nigerians are tired of constantly mourning and questioning when something will finally be done to stop the violence.
The Governor of Oyo State, Seyi Makinde, has revealed that seven teachers were abducted following a recent attack on a school in the state.
It was also shared that the number of students taken is still being investigated.
The governor further revealed that some people were killed during the attack and abduction.
He also added “With the pressure on the terrorists and the bandits in the North-West, they will keep moving southward.”
“When you have pressure in one place, we must be prepared on this side to either repel or neutralise any terrorists fleeing the pressure points.”
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