Over 1 million people to benefit from second phase of GEEP

The high youth unemployment and poverty coupled with the high inflation rate can cause any nation to experience an economic downturn and social upheaval which can lead to the destruction of the nation if not checked by the government through economic and social intervention programmes. The Government Enterprise and Empowerment Programme (GEEP) is an initiative by the Federal Government of Nigeria to provide financial inclusion and access to micro-credit for Nigerians at the bottom of the economic pyramid. GEEP aims to provide capital to beneficiaries in an easily accessible way to grow their business, this programme consists of the Trader Moni, Market Moni and Farmer Moni.

To meet his goal of lifting 100 million Nigerians from poverty President Muhammadu Buhari promised in the Next Level agenda to increase the number of beneficiaries of the GEEP programme from 2.3 million to 10 million beneficiaries.

Anthony Ailemen reported that “The minister of humanitarian affairs Sadiya Umar Farouq said that the second tranche of disbursement is about to start and 1,142,783 persons are expected to benefit, she further revealed that under the first phase of the GEEP, a total of 1,962,383 benefited from the TraderMoni, while MarketMoni had 425,362 beneficiaries and 36,508 got the FarmerMoni.”

The 1,142,783 beneficiaries who are expected to benefit from the initiative this year added to the 2,424,253 beneficiaries from the first phase of the programme is far from the 10 million beneficiaries target set by President Buhari, the programme is still ongoing and then progress will be tracked throughout the remainder of President Buhari’s tenure.

This promise is rated “in the works”.

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