Nigeria’s First Lady, Senator Oluremi Tinubu, has flagged off the rebranded and targeted expansion Market MONI scheme, which is part of the Government Enterprise and Empowerment Programme GEEP, a cluster under the National social Investment Programme.
As one of the social interventions under the Federal Ministry of Humanitarian Affairs and Poverty Alleviation, the Market Moni will be providing zero interest, zero collateral loans to 1.5 million market women in Nigeria beginning with 109 markets in each senatorial district across the Country and Abuja.
According to a statement by the Special Adviser on Media and Publicity to the Minister, Rasheed Zubair, speaking at the flagged-off held at the banquet hall of the presidential villa, Abuja, the First Lady expressed optimism that the rebranded GEEP would unlock unprecedented economic gains for market women.
Senator Tinubu said the transformative impact the micro,enterprises fund will have on the lives of the vulnerable in the society cannot be overemphasized.
She said it would play a crucial role in fostering inclusive growth and providing tangible benefits to those who need it most, especially market women and persons with disability,which will in turn empower the households and reduce the poverty ratio!
The First Lady saluted the dexterity, passion, and energy of the Minister for Humanitarian Affairs and Poverty Alleviation, Dr Betta Edu, in tackling poverty and humanitarian challenges in Nigeria within such a short time!
“I commend the Honourable Minister for the good works, which she started so well. May God strengthen you to finish the work successfully.
“By supporting micro, small, and medium enterprises, we empower local entrepreneurs to generate employment, thereby offering a lifeline to those struggling to make ends meet.
” This not only reduces unemployment rates but also enhances the overall well-being of individuals and families. Small-scale businesses provide a platform for economic empowerment of those with limited resources who can become self-reliant entrepreneurs when equipped with skills and a supportive environment.
“It is in this regard the rebranding of the three components of the programme is significant,” the First Lady said.
She advised beneficiaries of the interest-free loan to plan wisely exercise financial discipline in managing the fund and invest strategically while being committed to repayment.
Earlier, the Minister For Humanitarian Affairs and Poverty Alleviation, Dr Betta Edu, said President Bola Tinubu is in a hurry to change the narrative and pull millions out of poverty.
Edu tasked the Market Women’s Moni beneficiaries with prudence in managing the fund, reminding them that it wasn’t free but would be repaid.
