First Lady launches market-moni expansion, aids 1.5 million Nigerians

First Lady launches market-moni expansion, 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 cheques to Federal Ministry of Humanitarian Affairs and Poverty Alleviation beneficiaries.

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 persons with disabilities.

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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.

First Lady launches market-moni expansion, aids 1.5 million Nigerians