The Federal Government will soon commence disbursement of interest-free loans to smallholder farmers and businesses across the country before the end of 2025.
The National Programme Manager of the Government Enterprise and Empowerment Programme (GEEP), Hamza Ibrahim Baba, made this known on Friday in Kaduna during an engagement with representatives of the traders associations and other stakeholders in the state’s informal business sector.
He said the loans, up to N100,000 per beneficiary, were part of the FarmerMoni scheme under GEEP, aimed at supporting small-scale farmers involved in poultry, aquaculture, livestock rearing, and crop production.
“This pilot phase will support farmers nationwide, small-scale business owners, including Kaduna State.
“Beneficiaries will enjoy a six-month moratorium to enable them to produce before beginning repayment.
“The funds will help them acquire inputs such as fertilisers, livestock, veterinary drugs, and other critical tools,” Baba said.
Baba said that the programme, domiciled under the Federal Ministry of Humanitarian Affairs and Poverty Alleviation, was one of the flagship initiatives under the National Social Investment Programme (NSIP).
According to him, GEEP provides collateral-free, interest-free loans to micro-enterprises, petty traders, artisans, youth entrepreneurs, and farmers to help scale up their businesses and ensure financial inclusion.
He explained that GEEP operates three schemes: TraderMoni, targeting youths aged 18 to 45 involved in petty trades; MarketMoni, focused on women in small-scale trading; and FarmerMoni, for rural farmers.
Baba added, “These are not grants. They are loans, but interest-free.
*The goal is to help Nigerians at the bottom of the pyramid improve their businesses, become part of the formal financial system, and eventually create jobs.”
The co-ordinator said the loans ranged from N5,000 to N100,000, depending on the scheme, and were structured to promote sustainability through monitoring and evaluation.
He urged traders’ associations and cooperatives to work closely with GEEP Desk Officers and field enumerators across Nigeria’s 774 local government areas to ensure that only deserving beneficiaries were selected.
“The success of this programme depends on transparency and proper targeting.
We want to reach those who truly need support, not those looking to take advantage of the system,” he added.
(Guardian)
