The First Lady, Oluremi Tinubu, has inaugurated the extended Market-Moni Scheme aiming to support 1.5 million vulnerable Nigerians. This program was launched at the State House Conference Centre in Abuja, where Mrs. Tinubu handed out cheques to some beneficiaries and encouraged them to use the interest-free loans wisely.
Highlighting the government’s commitment to backing Micro, Small, and Medium Enterprises (MSMEs), Mrs. Tinubu stressed the scheme’s vital role in fostering employment and improving the well-being of citizens. She emphasized the substantial impact of MSMEs on the lives of vulnerable groups, especially women and individuals with disabilities.
The First Lady underlined the significance of MSMEs in driving inclusive growth and offering tangible benefits to those most in need. She pointed out that these small-scale businesses serve as platforms for economic empowerment and self-reliance for individuals with limited resources.
Moreover, Mrs. Tinubu detailed the rebranding of the program’s components—Tradermoni (now known as Owo Oja or Olilanya Ndi Nagbambo or Tallafin Sana’a), Farmermoni (rebranded as Owoagbe or Olilanya Ndi Oru Ugbo or Tallafin Manoma), and Marketmoni (rebranded as Iyaloja or Nne Ahia or Agajin Yan Kasuwa). This initiative is intended to better resonate with the target beneficiaries, particularly women traders and farmers, by conveying the program’s significance in local languages.
Furthermore, she highlighted the Government Enterprise and Empowerment Programme (GEEP), a component of the National Social Investment Programme (NSIP), which aims to offer interest-free loans to small-scale entrepreneurs. This strategy aims to foster financial inclusion and provide accessible capital for budding entrepreneurial ventures, thereby empowering the less privileged to actively participate in economic activities.
