President Buhari's Micro-Lending Program Delivers on Promises  

‍ President Muhammadu Buhari made a promise in 2016 to provide soft loans of up to a ₦1million to small traders, artisans (carpenters, tailors, mechanics, hairdressers, barbers, plumbers, vulcanizers, etc), and commercial drivers (Taxis, Keke and Motorcycles). Soft loans, also known as concessional loans or low-interest loans, have proven to be instrumental in empowering citizens and driving economic growth. These financial tools provide individuals and businesses with affordable credit, fostering development and creating opportunities for progress.

President Buhari's administration launched the Government Enterprise and Empowerment Program (GEEP) in 2016, aimed at providing financial assistance to small traders, artisans, and commercial drivers. This program, consisting of “Marketmoni”, “Farmermoni”, and “Tradermoni” initiatives, seeks to alleviate poverty, generate employment, and stimulate grassroots economic growth.

Exciting news! On August 24, 2021, the National Orientation Agency announced the official launch of GEEP 2.0. With its three classes—Tradermoni, MarketMoni, and FarmerMoni—GEEP 2.0 aims to effectively deliver soft loans and skills training to a wide range of unemployed citizens, including marginalized women, unemployed youth, and persons living with disabilities.

According to reputable sources such as Gazettengr and VoiceOfNigeria, the GEEP 1.0 and 2.0 programs have been implemented through a transparent and efficient process, as demonstrated on the official website. Notably, the program has already shortlisted 98,000 people and disbursed cash to 3,166 beneficiaries. By partnering with financial institutions, the disbursement process ensures that the loans reach those who genuinely need them.

The impact of the GEEP program on beneficiaries nationwide has been overwhelmingly positive. Countless success stories and testimonials have emerged, highlighting how these loans have transformed businesses and livelihoods. Small traders, including carpenters, tailors, mechanics, hairdressers, barbers, plumbers, and vulcanizers, have utilized the loans to expand their businesses, purchase necessary equipment, and boost productivity. Furthermore, commercial drivers, such as taxi, keke, and motorcycle operators, have utilized the loans to maintain and upgrade their vehicles, enhancing their earning potential.

The significance of these soft loan programs in improving the lives of beneficiaries cannot be overstated. The GEEP program not only provides crucial financial support but also instills confidence and hope among small-scale entrepreneurs, fostering a spirit of entrepreneurship and economic self-sufficiency.

We rate President Buhari's Soft Loan Program as a Promise “Kept".

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