First Lady Oluremi Tinubu has relaunched the expanded Market-Moni Scheme, aiming to benefit 1.5 million vulnerable Nigerians.
The event took place at the State House Conference Centre, Presidential Villa, where she handed symbolic cheques to selected beneficiaries.
In her address, the First Lady emphasized the government’s commitment to supporting Micro, Small and Medium Enterprises (MSMEs) to stimulate nationwide economic growth.
Stressing the vital role of MSMEs in the Nigerian economy, she highlighted the transformative impact these enterprises have on vulnerable communities, particularly women and individuals with disabilities.
To enhance accessibility, Mrs. Tinubu announced the rebranding of the programme’s components into local languages, such as Owo Oja, Olilanya Ndi Nagbambo, Tallafin Sana’a, Owoagbe, Olilanya Ndi Oru Igbo Tallafin Manoma, Iyaloja, Nne Ahia, and Agajin Yan Kasuwa, urging beneficiaries to plan wisely, exercise financial discipline invest strategically, commit to repayment agreements and as well, remain flexible in navigating the dynamic business landscapes.
She also underscored the significance of providing interest-and-collateral-free loans through the MSME programme, offering a lifeline to those facing barriers in accessing traditional loans from commercial banks, and urged beneficiaries to plan wisely, exercise financial discipline, invest strategically, commit to repayment agreements, and remain flexible in navigating the dynamic business language.
Following her speech, Minister of Humanitarian Affairs and Poverty Alleviation, shared details about the Tade-Moni scheme’s implementation which aims to cover all 109 senatorial districts, targeting one major market from each district.
She said each registered district will receive a N50,000 interest-and-collateral-free loan to support their businesses.
Edu revealed the government’s ambitious goal to life 50 million Nigerians out of poverty through various programmes, including N-power, school feeding projects and other initiatives to enhance coding skills for young people.
Several beneficiaries at the event expressed their gratitude for the financial support, citing the significant boost it provides for their businesses.
In her closing remarks, Mrs. Tinubu extended best wishes to all participants for success in their entrepreneurial endeavours, stressing that it marks a significant step towards empowering small businesses and fostering economic stability within communities across Nigeria.
