NSIPs: FG Reveals plans to increase TraderMoni from N10000 to N50000

NSIPs: FG Reveals plans to increase TraderMoni from N10000 to N50000

The President Buhari Muhammadu led administration has reveal plans on how to raise the TraderMoni facility from N10,000 to N50,000 under the National Social Investment Programmes (NSIPs), as part of ongoing efforts aimed at improving business activities across the country.

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This was made known by the Special Adviser to the President on National Social Investment Programmes (NSIPs), Dr Nasir Mahmoud, in Abuja during a paper presentation on the NSIPs during the just concluded two-day ‘Sensitisation Workshop on Effective Media Reporting of Humanitarian Sector’ organised for Media Correspondents and Ministry’s Press Crew held at the instance of Federal Ministry of Humanitarian Affairs, Disaster Management and Social Development.

According to Dr Nasir Mahmoud, he stated that no fewer than 37 million Nigerians are currently active in commercial activities necessitated the roll-out of the TraderMoni, FarmerMoni and MarketMoni schemes.

“He went further to explain that the upward review of the fund was to enable the beneficiaries to engage in substantial investment, noting that the initial N10,000 being given to beneficiaries some years ago, was insufficient for them to carry out any meaningful enterprise.

“For TraderMponi, it has not gone down the drain. I mentioned during my paper presentation that it is still one of the special intervention programmes through which we empower petty traders and market women.

“What happened was that what was done when it was under the last President was pilot. One because it was when the election was approaching, and then a lot of things were opened up, but the only good thing we are left to do is to begin to plan how best to handle this kind of programme.

“We have to do some totalling after data collection, to know exactly who are the Traders; where they are, and what type of intervention do they need? And then we are also looking at sustainability. It won’t make any difference to give somebody N10,000 as a one-off and then go away. We must find a way to do it, so that it will become sustainable, just like the GEEP.

“The GEEP is meant to give empowerment to small businesses, especially those that were affected by COVID-19. But we have to do it in such a way that when you take a loan and develop your business, a time comes when you pay that loan for other people because you can never go down at the same time.”

While giving updates on the N-Skill scheme, he also unveiled the Federal Government’s plans to empower over 14 million Nigerians including out-of-school children and physically challenged through the implementation of the programme.

While responding to question on the alleged duplication in the various NSIP schemes, Dr Mahmoud who dismissed the report, disclosed that while the N-Power programme was targeted at unemployed secondary school leavers to tertiary institution graduates, the N-Skill programme was aimed at providing intervention for over 14 million out of school children and physically challenged citizens.

Dr Mahmoud who assured that the process for the take-off of the N-Skill programme is almost concluded observed that beneficiaries who do not have access to schools will go through basic education including the English Language.

“He added that the N5,000 disbursed under the GEEP scheme was for the poorest of the poor across the country so as to enable them to meet critical needs.

Speaking earlier, the Minister of Federal Ministry of Humanitarian Affairs, Disaster Management and Social Development, Sadiya Umar Farouq, disclosed that Ministry has cleared all the outstanding allowances of N-Power beneficiaries.

“On the N-Power backlog, I don’t think we still have that issue, we have sorted that out with the office of the Accountant General of the Federation and we have gone through a very tedious process and at the last count, we have paid up. Now we have moved to the Batch C of the N-Power.

NSIPs: FG reveals plans to increase TraderMoni from N10000 to N50000