Vice President Yemi Osinbajo on Friday launched ‘next level’ TraderMoni loan of N15,000 for traders in Awka and Onitsha, Anambra State.

The first phase of the scheme was N10,000 while the increase, according to information gathered by News Express, is for those that have repaid the first loan.

Osibanjo, who arrived Eke Awka market at about 12:00 pm to meet a jubilant crowd singing praises of the Federal Government, moved round the market to interact with the beneficiaries in the company of the State Governor, Chief Willie Obiano, and the Executive Director of the Bank of Industry (BoI), Mrs Toyin Adeniji.

The programme was launched in Eke Awka market, Awka South Local Government Area, and Ochanja Market in Onitsha.

Some of the beneficiaries who spoke to journalists said the money would help them beef up their stock and improve on their profit margin which will automatically snowball into better life for their families.

A detergent hawker, Mrs Ujunwa Okonkwo, who is one of the beneficiaries, said: “I have been doing this business for three years now. My wares would have grown bigger than this, if not for the fact that I feed my two children from the proceeds I make.

“Now that the Federal Government has helped me with money, I’m sure that I can do better. I’m happy that people like us can be remembered by the Federal Government.”

In her speech, BoI’s Toyin Adeniji said the launch of the second phase was aimed at sustaining efforts in order to meet the primary objective of “broadening financial inclusion, and increasing access to affordable credit for traders and small business owners.”

She said that the target of the second phase is at least 2,000 new TraderMoni and MarketMoni beneficiaries in addition to the over 30,000 TraderMoni and 4,000 plus MarketMoni beneficiaries that received the GEEP loans in the first phase, between 2017 and 2018.

Adeniji added: “Prior to this official market activation, 200 new MarketMoni beneficiaries had been recorded in the state. The second phase will also target traders for the N15,000 Next Level TraderMoni loans for traders who have repaid the first N10,000 loan.

Speaking during a courtesy visit to the traditional ruler of Onitsha, Igwe Alfred Achebe, VP Osinbajo said that President Muhammadu Buhari is committed to ensuring that he brings the scheme to fulfilment

He explained that the TraderMoni and MarketMoni scheme is a Federal Government project where micro credits are provided to the lowest in the rank of the trading value chain.

He observed that many of the traders were not given such facility or loan because nobody is sure that they will pay back or not.

Osibanjo added: “Only the Government can guarantee that kind of facility and it is the Bank of Industry (BOI) that actually administers the loan.

“We want to make sure that even in terms of execution of projects, we are fair and just, which is the commitment that the president has made.

“As Nigerians, we are all brothers regardless of religion, ethnicity or political affiliation.”

While saying that 20,000 traders have benefited from TradeMoni and MarketMoni, the VP noted that the scheme had practically gone round the country.

He expressed satisfaction with the implementation of the Federal Government’s Home-Grown-School-Feeding programme in the state saying that they had earlier visited one of the cooks in Awka who happen to be the best cook of the programme in the community.

Osibanjo also commended Achebe for his leadership style not just as the Chairman of the South-East Traditional Rulers Council, but also an individual, whose statements are conciliatory and unite rather than divide the country.

The vice president, who shortly after the courtesy visit proceeded to Asaba to inspect the Second Niger Bridge, gave assurance that the Federal Government was committed to completing the project and the access roads.

He said: “We want to make sure that we complete it because of its economic benefit to the zone and the entire country.

“The Second Niger Bridge is among the five projects where money has actually been set aside under a Presidential funding initiative to ensure completion.

“So, we have no fears that it will be completed as promised and on schedule.”

In his remarks, Governor Obiano lauded the Federal Government’s TraderMoni and MarketMoni initiatives, saying that state government will encourage the culture of repayment of loans and ensure prosperity of traders.

He hailed Federal Government’s zeal towards the ongoing Second Niger Bridge and the completion of Zik Mausoleum.

On his part, Igwe Alfred Achebe reminded the Federal Government on the need to set up a Board of Trustees to manage the affairs of Zik Mausoleum.

He stressed that the Federal Government’s TraderMoni and MarketMoni initiatives should also be extended to local markets in Onitsha, adding that they contribute to the economy.

Achebe said: “Ochanja Market has become a kind of international market of sort, but then we have our own local market women, who also need to benefit from these initiatives.

Also on the VP’s entourage were Senator representing Anambra South in the National Assembly, Andy Uba, among others.

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