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Osinbajo delights Iwo traders with ‘Moni scheme’



Osinbajo delights Iwo traders with ‘Moni scheme’

Vice President Yemi Osinbajo recently launched the “Traders Moni Scheme” targeted at petty traders, market women, artisans and small scale business enterprises to cater for ultra-micro enterprises in Iwo, Osun State. Our Correspondent, ADEOLU ADEYEMO, who witnessed the event, reports


There are many occasions in one’s life time which time nor circumstance can obliterate from one’s memory – one of such historic ones was made in the ancient town of Iwo last Monday when Vice-President, Professor Yemi Osinbajo through the Bank of Industry (BOI) and Government Enterprise and Empowerment Programme (GEEP) launched ‘Trader Moni’ scheme, targeted at petty traders, market women, artisans and small scale business enterprises to cater for ultra-micro enterprises in Osun State.


The programme, tagged “Trade Money” which is meant to boosting micro and small scale businesses and petty trading and commercial activities across the country, saw that of Osun State scheme flagged off around afternoon of the day at the Baptist Government School in the town where thousands of participants trooped out to be beneficiaries of the programme. In fact, it was a day that would never be forgotten in a hurry by these petty traders who came from far and near to grace the occasion and listen to steps to be taken before the loan could be applied for.


They were anxious to be part of the activity so as to be well informed on how they could move to the next level through it. One of the beneficiaries, Mrs Mope Hammed, a vegetable hawker, said, that, “I am grateful to the Federal Government for the initiative and with the money at hand, I can now afford to expand my business.”


According to her, she planned at graduating to the level of being able to asses as much a N50,000 to expand her business through promo payment of the money she received. Also, Mufutau Ajibola, a blacksmith, said, with the money at hand, he can now produce product for buying and not remain at the level of repairing products for customers alone. The traders were seen drenched in sweat while trying to get near Professor Yemi Osinbajo, who said: “We thank God that we are starting this in Osun State.


We will give you more as you begin to repay the N10,000. “If you look at it, petty traders are very many in Nigeria; they are everywhere; you see them in Iwo; they are many even in villages, towns and cities. We have to encourage them and do everything to encourage their trades.”


He however pointed out that, Under the programme, the beneficiaries would be given a sum of N10,000 each, repayable within six months and that, any of the beneficiaries that pays back the loan within the stipulated period, would qualify for a bigger amount of N15,000.


According to him, the Traders’ Moni programme was part of the Federal Government’s social intervention aimed at funding micro business in the country. He, however, maintained that, “no government in the history of the country has done such an economic boosting programme like the APC-led one which has done well in the area of people’s welfare. The Vice President said that, the Traders’ Moni programme will help boosting micro and small scale businesses and petty trading and commercial activities across the country.

Commending President Muhammadu Buhari for giving priority to welfare of the people of the country, Osinbajo said there was the need for the people of the country to reciprocate the good work of President Buhari by re-electing him in 2019. Speaking on the programme, the State Commissioner for Trade, Commerce and Empowerment, Mr. Ismaila Jayeoba Alagbada, applauded the commitment of the state government to various social intervention programmes aimed at alleviating the suffering of the down trodden.


He, however, appealed to the beneficiaries to make the best use of the opportunity at their disposal and make ensure they climb the ladder of benefiting bigger loans by paying as at when due. Also speaking at the event the Executive Director, Bank of Industry (BOI), Mrs Toyin Adeniji said that, no fewer than 30,000 beneficiaries would have access to the loan while the beneficiaries of the Traders’ Moni scheme are in all 36 states and the Federal Capital Territory (FCT). Also speaking at the event, Osun State Governor, Ogbeni Rauf Aregbesola lauded his administration for banishing poverty, hunger and unemployment through prompt implementation of people-oriented policies that have made life abundant, meaningful and prosperous for the citizenry.


According to him, his administration has uprooted the scourge of poverty, hunger and unemployment in the state. In his goodwill message, the Oluwo of Iwoland, Oba Abdul-Rasheed Adewale Akanbi commended President Muhammadu Buhari, his Vice, Professor Yemi Osinbajo and Osun State Governor, Ogbeni Rauf Aregbesola, for being committed to human and capital development.

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