Federal Government says it has concluded plans to disburse N140 billion to petty traders nationwide

 

   The Federal Government says it has concluded plans to disburse N140 billion to petty traders nationwide to improve the country’s economy.


   According to reports, the initiative to be championed by the Bank of Industry, BOI, will benefit petty traders, artisans, enterprising youths as well as small scale farmers across the country.

   Speaking at the training of super agents, who are the foot soldiers for the effective implementation of the programme, in Abuja, the market aggregator of the Propoor Gate Foundation for the North, YunusaGafai, explained that the N140bn for the Government Enterprise and Empowerment Programme, GEEP, under its special intervention programme on social investment is to empower the beneficiaries economically.

    According to him, the loans to be given to them range from N10,000 to N100,000 with no interest charges but an administrative fee of N500 per N10,000.

   To access the loan, Gafai noted that the individual must be a registered member of an accredited market association, cooperative or trade group and must have a valid Bank Verification Number, BVN.