Sat. Jun 12th, 2021

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FG Considers Increasing The Tradermoni By N40,000, Addresses N-Power Backlog

3 min read

The federal government has earlier today released the information as to its plan to review the amount payable by the TraderMoni facility initiated not quite long, under the National Social Investment Programmes (NSIPS) as it is being driven to improve business facilities.

Dr. Nasir Mahmoud, Special Adviser to the President on National Social Investment Programmes (NSIPs), revealed this in Abuja while addressing a gathering who came to witness a paper presentation, tagged “Sensitisation Workshop on Effective Media Reporting of Humanitarian Sector.”

The programme which convened under the aegis of the Federal Ministry of Humanitarian Affairs, Disaster Management and Social Development, was a specially designed one to equip Media Correspondents and Press Crews reporting for the ministry with the necessary ideas to go about their duties professionally.

According to him, “The Not fewer than 37 million Nigerians that are currently active in commercial activities necessitated the roll-out of the TraderMoni, FarmerMoni and MarketMoni schemes.”

He proceeded by saying the upward review done on the initial N10,000 disbursed, will assist the expansion of businesses in Nigeria, including the expected improvement in most of the businesses that haven’t been sufficiently funded by the initial N10,000.00 being given to beneficiaries some years ago.

In his words, “For TraderMoni, 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.”

Apart from the review of the existing amount disbursed under TraderMoni, is the employment of over 14 million Nigerians via the N-Skill Scheme. The employment opportunity according to him will involve out of school and physically challenged.

Mahmoud while giving a reply to a question as to the alleged duplication in the various schemes of the programme, dismissed and unveiled the reality as to the aim of N-Power. The scheme was said to have been initiated to tackle the problem of unemployment with secondary school leavers and university graduates. The plan for the takeoff of N-Skill activities was said to be near conclusion and that beneficiaries without education will go through Basic Education, including English Language.

He added that the #N5,000.00 disbursed under the GEEP Scheme obtains only for the Poorest of the Poorest in Nigeria, for them to meet their critical needs.

The Minister of Federal Ministry of Humanitarian Affairs, Disaster Management and Social Development, Sadiya Umar Farouq, declared that the ministry has cleared all debts owed 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.”

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