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FG empowers women group to boost small business operations

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In line with Federal Government’s Enterprise and Empowerment Programme (GEEP) initiative meant to encourage the development of Small and medium enterprises (SMEs) in Nigeria attain financial prosperity, 1,250 women have been trained to benefit from soft loans needed for their businesses.

To this end, non-interest soft loans of between N10,000 and N100,000 will be disbursed to the women wing of the National Association of Nigeria Traders (NANTS).

The loan, which is payable within six months is meant to encourage women who constitute 65 percent of the association’s membership profile to boost their small scale businesses and contribute to the economic revival of the country.

The Bank of Industry (BoI) will be responsible for the screening of beneficiaries while the fund will be disbursed through commercial banks.

Speaking at a capacity building exercise in Abuja, the President of the association Ken Ukaoha warned beneficiaries not to see the largesse as a national cake, rather they should make accountability and prudence their watchword.

His words: “The money is a micro credit for six months and the capacity building is for you to know the objective of the fund, how to access it and use it effectively in order to add value to your lives and the economy at large.

He said the association will continue to screen and enrol members into the scheme adding that though the loan do not attract any interest, the association on its own had put in place, some internal mechanism to checkmate defaulting tendencies.

The leader of the group Rose Agbo described the intervention as God-sent.


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2 Comments
  • infinity2020

    I can not believe what i am seeing and reading. Nigeria with a population of almost 180 million people the Fed is empowering 1,200 women with an outdated 14th century singer sewing machines. How many billions goes into this? Nigeria is a JOKE !!!!

  • real

    whoa, this is just not going to be enough and they continue to do this small scheme that doesn’t really move the needle in the economy. There needs to be a focus on high impact schemes that would move a lot of people out of poverty and move the economy forward. Most of our funds should be focus on agriculture and agro processing, which we really need.