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Top Nigerian Enterprise/Empowerment Programme

Nigerian Enterprise/Empowerment Programme: The Federal Government Enterprise and Empowerment Programme, MarketMoni scheme, has reached over 350,000 micro-enterprises in the country’s 36 states and the Federal Capital Territory.

The Executive Director, Bank of Industry, Mrs. Toyin Adeniji, stated this in Kano during the state’s edition of Micro Small and Medium-scale Enterprises Clinic.

GEEP MarketMoni is a Federal Government’s Social Intervention Programme that provides interest-free loans of N10, 000 to N100, 000 to micro-enterprises, the segment of society with the greatest difficulty in accessing credit.

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Nigerian Enterprise/Empowerment Programme

The scheme, which is executed by the BoI, a parastatal of the Federal Ministry of Industry, Trade and Investment, directly impacts traders, market women, artisans, and farmers nationwide.

To assess the impact of the scheme, Vice-President Yemi Osinbajo met with a section of about 12,000 beneficiaries from Kano State during the state’s edition of the MSME Clinic on Thursday.

Nigerian Enterprise/Empowerment Programme

The Special Assistant to the Vice President on the MSME, Tola Johnson, said, “The best thing that has happened to micro- businesses in Nigeria is the GEEP MarketMoni programme. It dealt with their collateral challenge because all they need is their data, a bank account and Bank Verification Number.

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Nigerian Enterprise/Empowerment Programme

Johnson said that out of the 37 million small businesses in Nigeria, 36.9 million were micro-enterprises. “This informed the Federal Government’s attention to this space. Micro-enterprises are responsible for almost 50 per cent of the country’s Gross Domestic Product and 80 per cent of the workforce.

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Nigerian Enterprise/Empowerment Programme

Meanwhile, Adeniji said that under GEEP MarketMoni scheme, the BOI had given out more than 350, 000 micro-credit loans across the country.

“GEEP MarketMoni has given people who otherwise had no access to finance, money to finance their businesses. These micro-enterprises are expanding their businesses, making more profit and employing more people.

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Nigerian Enterprise/Empowerment Programme

“Most of our beneficiaries are women, some of whom are widows and single mothers. We are improving the quality of their lives, their children’s lives, their health and even education. We are seeing very quantifiable impact. No government has ever done this.

Nigerian Enterprise/Empowerment Programme

Speaking with journalists in Kano, the Head of Agent Networks, Sherifat Abdullahi, who interacts directly with agents, association heads and the beneficiaries, said, “Apart from the 350,000 direct beneficiaries across the country, it has created employment opportunities for over 5,000 Nigerians who act as MarketMoni agents, some of whom are graduates, previously unemployed.

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Nigerian Enterprise/Empowerment Programme

Sherifat added, “As someone who has direct contact with the beneficiaries, this has been a very emotional journey for me, watching how this interest-free loan scheme is changing the lives of people, especially women and the vulnerable. We truly appreciate the Federal Government for doing this.

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