Connect with us

Business

FG Begins Funding Of 1.5million Market Women With N75bn Non-Interest Loan

FG will give N50,000 to 1.5 million market women under the Government Enterprise and Empowerment Program.

Published

on

excited african market woman
Market woman

Minister of Humanitarian Affairs and Poverty Alleviation, Dr Betta Edu, announced on Tuesday that the Federal Government is set to provide a non-interest loan of 75B to Market Women.

VerseNews reports that according to the Minister, FG will give N50,000 to 1.5 million market women under the Government Enterprise and Empowerment Program.

This initiative aims to boost their capital and foster business expansion.

She stated that the N75 billion market women fund, to be named the Iyaloja Fund for underprivileged female traders, is set to be inaugurated on October 17th.

During an advocacy visit to the Minister of Information and National Orientation, Mohammed Idris, the minister said in Abuja that the program would unfold in three phases, with the first phase set to benefit 500,000 individuals.

“We will start right away with the GEEP Programme; we have Iyaloja Funds, which is equivalent to Market Women Money. We have the Jaga Funds, which is a capital fund for traders; and Farmers’ Money, which is called the Hugo Fund. The Farmer’s Money will be provided to the poorest of the farmers to enable them to go into the next farming season.

“The Iyaloja Fund will be providing for poor market traders in the market, helping them to improve their capital and expand their businesses. These are non-interest loans given to these persons.”

“This program is not the one you give contracts to people to build houses. The communities will build their houses by themselves. We would just provide the enabling environment. And they are expected to source for everything they will use to build that house locally, including the furniture in the house,” the minister said.

Stay ahead with VerseNews. Get the latest breaking news, insightful analysis, and trending stories. Your go-to source for timely updates and unbiased reporting.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

WATCH: Nigeria Newspaper Headline Today

Apply For Latest Job Openings

Trending

Wike Speaks On Dumping PDP Wike Speaks On Dumping PDP
Politics40 minutes ago

EXCLUSIVE: Tinubu Under Pressure to Drop Wike as APC Elders Push for Alliance with Fubara

President Bola Tinubu is reportedly considering dropping FCT Minister Nyesom Wike following mounting pressure from APC elders to realign with...

the adc handshake more than just a party symbol the adc handshake more than just a party symbol
Politics1 hour ago

ADC Reacts to Tinubu’s Nomination of Prof. Joash Amupitan as New INEC Chairman

The African Democratic Congress (ADC) has reacted to President Bola Tinubu’s nomination of Professor Joash Amupitan (SAN) as the new...

images 29 images 29
Politics22 hours ago

Joe Igbokwe Warns FG Against Releasing Nnamdi Kanu, Says IPOB Leader ‘Does Not Deserve Pardon’

APC chieftain, Joe Igbokwe, has urged the Federal Government not to release IPOB leader, Nnamdi Kanu, insisting he does not...

AFP 20251010 78BX6KE AFP 20251010 78BX6KE
World News22 hours ago

BREAKING: Venezuela’s Opposition Leader Maria Corina Machado Wins 2025 Nobel Peace Prize, Trump Misses Out

Venezuelan opposition leader Maria Corina Machado has won the 2025 Nobel Peace Prize for her fight to restore democracy in...

Tinubu in meeting Tinubu in meeting
Politics22 hours ago

Why I Chose Prof. Joash Amupitan as INEC Chairman – Tinubu

President Bola Tinubu has explained that his choice of Professor Joash Amupitan (SAN) as the new INEC Chairman was based...

asuu fg asuu fg
Education23 hours ago

FG Gives Fresh Update on Ongoing Negotiation with ASUU

The Federal Government says negotiations with ASUU are making steady progress, with a counteroffer expected soon.

Professor Joash Amupitan 932x1024 1 Professor Joash Amupitan 932x1024 1
Politics2 days ago

Meet the New INEC Chairman, Prof. Joash Amupitan: All You Need to Know

President Bola Tinubu has nominated Prof. Joash Ojo Amupitan (SAN), a seasoned law scholar from Kogi State, as the new...

Tinubus Nominee Prof. Joash Amupitan Tinubus Nominee Prof. Joash Amupitan
Politics2 days ago

BREAKING: Council of State Backs Tinubu’s Nominee, Prof. Amupitan, as New INEC Chairman

The Council of State has approved President Tinubu’s nomination of Prof. Joash Amupitan (SAN) as INEC Chairman, pending Senate confirmation.

Emefiele Court Emefiele Court
News3 days ago

Emefiele’s Fraud Trial Stalls as Defence, EFCC Clash Over Forensic Access to iPhone Evidence

The fraud trial of former CBN Governor Godwin Emefiele stalled in Lagos after his lawyers accused the EFCC of blocking...

President Bola Ahmed Tinubu Inaugurates the Presidential Committee on Fiscal Policy and Tax Reforms at the Council Chamber of the Presidential Villa e1695054651687 President Bola Ahmed Tinubu Inaugurates the Presidential Committee on Fiscal Policy and Tax Reforms at the Council Chamber of the Presidential Villa e1695054651687
Politics3 days ago

BREAKING: Tinubu Seeks National Assembly Approval to Borrow Fresh $2.35bn

President Bola Tinubu has asked the National Assembly to approve a fresh $2.35 billion external loan...

Advertisement