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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.
The Chairman of Gboko Local Government Area of Benue State, Torseer Yina, has imposed a dusk-to-dawn curfew in the ancient town.
The curfew takes effect from Thursday, October 8, 2026, following unrest and violent protests in the area.
According to reports, the action was taken to contain the unrest and violent protests by members of BEMOA following the death of one of its members by unknown gunmen.
The protest, which was reportedly hijacked by hoodlums, turned violent after an angry mob burnt two vehicles belonging to the Benue State Civil Protection Guards.
The Gboko council chairman said the curfew takes effect immediately and warned that anyone caught flouting the order or breaching public peace would be decisively dealt with.
Nine people have died in a fatal road crash along the Ijebu-Ode-Benin Expressway in Ogun State.
The crash occurred on Monday at about 4:55pm around the Bethel area along the Ijebu-Ode/Ore axis of the expressway. It involved a white Toyota Hiace commercial bus belonging to Delta Line and a white Sino truck operated by Bill Gas Solution Ltd.
According to the Federal Road Safety Corps (FRSC), all nine people involved in the crash, comprising three males and six females, died in the incident.
The FRSC said the crash occurred while it was raining and the road was wet, with preliminary investigations identifying speed violation as the probable cause.
The FRSC rescue team arrived at the scene shortly after receiving the report, while the bodies of the victims were taken to the General Hospital Morgue in Ijebu-Ode.
The Ogun State Sector Commander, Oludare Ogunjobi, urged motorists, especially commercial drivers, to obey speed limits and exercise extra caution when driving in the rain.
Minister of Education, Dr Tunji Alausa, speaks on the role and importance of teachers in the world to celebrate Teachers’ Day today.
He spoke on technology and its advancement and shared that while it is going well, teachers can never be replaced.
“These tools can help teachers reach learners and tailor instruction, but the judgement, encouragement and human connection of a skilled teacher remain indispensable,” he said.
“Every doctor, engineer, scientist, entrepreneur and public servant has benefited from a teacher and could not have become what they are today without teachers,” the minister said.
“When we honour teachers, we honour the people who make every other profession possible.”
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