The First Lady underscored the government's commitment to supporting Micro, Small, and Medium Enterprises (MSMEs) to stimulate employment generation

Empowering Entrepreneurs, Market-Moni Expansion Launch Aids 1.5 Million Nigerians

Senator Oluremi Tinubu, the First Lady, inaugurated the extensive Market-Moni initiative, known as ‘iyaloja’ or ‘nne ahia,’ benefiting 1.5 million Nigerians. The event, held at the Presidential Villa’s Banquet Hall in Abuja, featured the symbolic distribution of checks to beneficiaries of the Federal Ministry of Humanitarian Affairs and Poverty Alleviation.

Market-Moni, the brainchild of the Nigerian government, is a financial inclusion program designed to provide accessible and interest-free loans to small-scale traders and entrepreneurs. The initiative aims to alleviate poverty, stimulate economic activities at the grassroots level, and empower individuals who may not have easy access to conventional banking services. Senator Oluremi Tinubu’s role in inaugurating the expanded phase demonstrates a commitment to driving positive change through impactful economic policies.

The expansion of Market-Moni marks a significant scaling up of efforts to reach a broader segment of the population. By benefiting 1.5 million Nigerians, the initiative extends its reach beyond previous limitations, offering financial support to a more extensive array of aspiring entrepreneurs. This move aligns with the broader goal of empowering individuals to create sustainable livelihoods and contribute to the economic development of the nation.

The symbolic distribution of checks during the launch is a powerful visual representation of the government’s commitment to uplifting its citizens. The ‘iyaloja’ or ‘nne ahia,’ who are the backbone of local economies, stand to gain significantly from this expansion. This symbolic gesture not only signifies financial assistance but also serves as a public acknowledgment of the crucial role played by these entrepreneurs in the economic fabric of Nigeria.

Emphasizing financial prudence, Senator Tinubu urged loan recipients to plan wisely, exercise fiscal discipline, invest strategically, adhere to repayment agreements, and remain flexible in navigating the dynamic business landscape.

The First Lady underscored the government’s commitment to supporting micro, small, and medium enterprises (MSMEs) to stimulate employment generation. She highlighted the crucial role of MSMEs in fostering inclusive growth and empowering vulnerable groups, especially women and people with disabilities.

The rebranded components—Owo Oja (Tradermoni), Owoagbe (Farmermoni), and Iyaloja (Marketmoni)—aim to enhance program understanding among women, traders, and farmers, emphasizing the significance of financial empowerment in native languages.

Dr. Betta Edu, Minister of Humanitarian Affairs and Poverty Alleviation, affirmed that the expanded Government Enterprise and Empowerment Programme (GEEP) aligns with the goal of lifting 50 million Nigerians out of poverty. The Market-Moni scheme targets 1.5 million beneficiaries across all 109 senatorial districts, providing interest and collateral-free loans of N50,000 after registration.

Edu highlighted the program’s focus on financial inclusion, breaking down barriers, and empowering individuals with limited resources to participate in economic activities actively. The initiative, part of the National Social Investment Programme, represents a significant step in democratizing financial resources for the betterment of the nation.

The Minister expressed optimism about President’s commitment, stating, “Mr. President is in a hurry to change Nigeria for the better within the next one year,” emphasizing the urgency of uplifting Nigerians through impactful programs.

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