Vice president, Prof. Yemi Osinbajo, yesterday in Lagos State inaugurated the TraderMoni scheme at Ketu, Bariga and Oshodi markets, where he revealed that more than 809,000
petty traders have so far benefitted from the initiative, with an assurance that the scheme would be extended to two million beneficiaries by December 2018 across the country.
The scheme, which is a collateral and interest-free loan for petty traders, had earlier been launched in some markets in Lagos, while three additional markets in the state – Ketu, Bariga and Oshodi were added to the scheme by Osinbajo, accompanied by Lagos State governor, Akinwunmi Ambode and the All Progressives Congress (APC) governorship candidate in the state, Babajide Sanwo-Olu.
The trio, while inspecting implementation of the scheme, took time to interact with petty traders in the markets, assuring them that government would continue to come up with innovative initiatives to benefit the critical mass of the population.
TraderMoni, an initiative, which is part of the Federal Government’s Social Investment Programme (N-SIP), is designed to assist petty traders across the country expand their trade through the provision of collateral and interest-free loans ranging from N10,000 and above, repayable over a period of six months.
