Metro Vegetable Farmers in Lagos Extol FG Over Collateral Free Loans


Over one thousand peasant vegetable farmers in Iyana Iba Council Development Area of Lagos on Wednesday benefited from the ongoing Federal government social interventions initiative called Trader Moni.
The farmers who have beds of Spinach, Pumpkin leaves popularly called Ugwu, Spring onions, Cabbage among others crops, expressed gratitude to the Federal government for the initiative of giving petty traders loan without collateral.

The President of Vegetable and Fruit Association in Lagos State, an ex-service personnel, Mr Suleiman Akanni, who said the farmers contribute largely to the economy of the state and the country at large, promised that the farmers would use the loan to buy seedlings and fertilizer to improve and boost production on their farmlands.

On his part, the Coordinator of the Government Empowerment Enterprise Program, Mr Nwagba, assured traders in Lagos that Trader Moni initiative which had been in existence for two years is a continuous exercise stressing that any trader who had registered but not credited yet would soon receive bank alert.
The Vice President Professor Yemi Osibajo was received at the market by the Vice Chancellor of the Lagos State University, LASU., Professor Lanre Fagbohun among other dignitaries and artistes.

In the same vein, Alaba Rago traders in Lagos on Wednesday also expressed confidence in the initiative of the federal government tagged TraderMoni.

The traders say it is a sign of better things to come and a way of saying there is hope after all.

A beneficiary of the TraderMoni at Alaba Rago, Haruna Muhammad, a labourer who carries loads daily on his back to make ends meet said it is a sign that there is still hope for a better tomorrow.

“I will use the money to purchase a wheelbarrow to aid my business thereby increase my chances of getting bigger jobs. I am happy to collect this money and there is hope for us to live a better life," he said.

He advised that the policy is extended to those who do not have access to information.

Also Ajoke, a bread seller said though she had been enrolled yet to get an alert but optimistic that she would receive the money in no distant time. "Some of those who registered have gotten their money but I have not gotten mine," she said.
When asked what she will do with the money, she said she would expand her business by including other items to her stock. "Now, I sell only bread but if I have the money, I will also sell Butter (Margarine) or even minerals," she concluded

A supervisor with TraderMoni Programme, Olawale Johnson, explained that beneficiaries, who were selected after a registration process, could receive up to N100,000 as loans from an initial sum of N10,000.

"What we are doing here is to sensitize targeted beneficiaries on how to access the loan and teach them modalities on how to pay back, to benefit higher amount,” Johnson said.

Since Monday, Osinbajo has been touring several markets across Lagos state, among them are Ojuwoye Market, Ketu, Oshodi, Bariga, Igando, Ile Epo, Ikotun, Alaba Rago.

On Friday, November 16, 2018, the vice president will also launch the programme in Bodija and Oje markets. TraderMoni covers all regions of the country and the government targets two million petty traders by the end of 2018.
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