The Federal Government has launched the Trader Moni empowerment programme for 30,000 petty traders in Osun State.
The Vice President, Prof Yemi Osinbajo (SAN), launched the empowerment loan, which would be paid by the Federal Government through the Bank of Industry to the beneficiaries.
Speaking at the programme held in Iwo on Monday, Osinbajo said the loan would assist petty traders to expand their trades, stressing that the beneficiaries would not be burden to others if their trades began to thrive.
He said, “We thank God that we are starting this in Osun State. We will give them more as they begin to repay the N10,000. If they repay the N10,000, they will be given N15,000. And if that is repaid, they would be given N20,000 and so on like that.
“If you look at it, petty traders are very many in Nigeria; they are everywhere; you see them in Iwo; they are many even in villages, towns and cities. We have to encourage them and do everything to encourage them to continue. We want to empower the masses especially those who are not lazy; we have to empower them with loans to continue with their trades. That is what President Buhari’s government wants to do.
“This programme is part of Social Empowerment Programme by President Buhari to discourage corruption in this nation and serve as a mean to help petty traders in the country. We want the wealth of this nation to be shared to every Nigerian. The wealth of this nation belongs to every citizen and not to some set of people; not politicians but the common people of the country who should feel the impact of the government.”
The Executive Director, Bank of Industry, Mrs Toyin Adeniji, said she expected the 30,000 beneficiaries of the empowerment scheme to expand their trades in order to be able to benefit more from the scheme.