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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.
A viral clip has made its way online showing a police officer in Delta State shooting a suspect who had already been restrained.
It can be noted that the suspect was pleading, claiming he had been framed and deceived, and said he would lead them to the right place.
However, while he was pleading, the police officer shot him. The officer later stated that the suspect was armed with a gun.
It was later revealed that the police officer has been arrested, as it is against the law to shoot a restrained suspect.
It was reported by the Kogi State Government that 24 children were abducted from an orphanage home. It was shared that this happened on the 26th of April, Sunday, and gunmen were seen in the area that day.
The information was shared by the Commissioner of Information, Kingsley Fanwo, who shared this sad news and described it as unfortunate.
“We condemn in strong terms the abduction of innocent children from an orphanage, the government is working closely with security operatives to ensure their safe return,”
Ghanaian media personality Afia Schwarzenegger speaks on the xenophobia issues occurring around Africans in South Africa.
She stated that Ghana is not the same as Nigeria and shared that if such issues happen to Ghanaians in South Africa, they will speak up and not keep quiet. She added that they will react.
“Ghana is not like Nigeria and we won’t hesitate to return the stupid favour.”
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