close
Saturday, August 16, 2025

FG to disburse interest-free loans to small businesses, farmers nationwide

Mr Baba added: “These are not grants. They are loans but interest-free.’’

• August 16, 2025
Farmers and traders
Farmers and traders [Credit; IITA]

The Federal Government will soon commence disbursement of interest-free loans to smallholder farmers and businesses across the country before the end of 2025.

The National Programme Manager of the Government Enterprise and Empowerment Programme, Hamza Ibrahim Baba, has said.

Mr Baba made this known on Friday in Kaduna during an engagement with representatives of the traders’ associations and other stakeholders in the state’s informal business sector.

He said the loans, up to N100,000 per beneficiary, were part of the FarmerMoni scheme under GEEP, aimed at supporting small-scale farmers involved in poultry, aquaculture, livestock rearing, and crop production.

Mr Baba stated, “This pilot phase will support farmers nationwide, small scale business owners including Kaduna State. Beneficiaries will enjoy a six-month moratorium to enable them to produce before beginning repayment. The funds will help them acquire inputs such as fertilisers, livestock, veterinary drugs, and other critical tools.’’

Mr Baba said that the programme, domiciled under the Federal Ministry of Humanitarian Affairs and Poverty Alleviation, was one of the flagship initiatives under the National Social Investment Programme (NSIP).

According to him, GEEP provides collateral-free, interest-free loans to micro-enterprises, petty traders, artisans, youth entrepreneurs, and farmers to help scale up their businesses and ensure financial inclusion.

He explained that GEEP operates three schemes: TraderMoni, targeting youths aged 18 to 45 involved in petty trades; MarketMoni, focused on women in small-scale trading; and FarmerMoni, for rural farmers.

Mr Baba added: “These are not grants. They are loans but interest-free. The goal is to help Nigerians at the bottom of the pyramid improve their businesses, become part of the formal financial system, and eventually create jobs.”

The coordinator said the loans ranged from N5,000 to N100,000, depending on the scheme, and were structured to promote sustainability through monitoring and evaluation.

He urged traders’ associations and cooperatives to work closely with GEEP Desk Officers and field enumerators across Nigeria’s 774 local government areas to ensure that only deserving beneficiaries were selected.

He stated, “The success of this programme depends on transparency and proper targeting. We want to reach those who truly need support, not those looking to take advantage of the system.’’

Mr Baba assured that the Tinubu administration was committed to expanding the reach of all GEEP schemes, stressing that the pilot farmer intervention would lay the foundation for broader rollout in 2026.

He acknowledged the contributions of previous administrations and ministers to GEEP’s development since its inception in 2016 and extolled ongoing reforms aimed at improving delivery and accountability.

He said, “GEEP also works in synergy with other NSIP components, including the National Home-Grown School Feeding Programme, Conditional Cash Transfer, and Grants for Vulnerable Groups. These are all aimed at reducing poverty and improving livelihoods across Nigeria.”

In an interview, one of the beneficiaries, Hauwa Musa, expressed appreciation to the Federal Government for the gesture, stating that the support had significantly impacted her life and helped expand her business.

Another respondent, Umar Usman, said he had not benefited from the programme yet but expressed hope of being included in the upcoming GEEP 3.0 phase, whose disbursement was expected to commence soon

The market leaders and stakeholders also commended the Federal Government for supporting business owners with interest-free loans.

They assured that they would work closely with the GEEP Desk Officers to ensure fair distribution and ensure the support reached those who genuinely needed it.

(NAN)

We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.

More from Peoples Gazette

Abubakar Kyari

Agriculture

FG tasks ECOWAS on leveraging financing strategies for agroecology

The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices

Katsina State

Politics

Katsina youths pledge to deliver over 2 million votes to Atiku

“Katsina State is Atiku’s political base because it is his second home.”

States

NIS beat Adamawa Spikers 2-0 in Volleyball National Division 1 and 2 league

Captain of the NIS girls, Ms Suleiman, rated their performance 50 per cent.

States

Lagos backs public-private partnership to expand potable water access

Mr Adegbite said the state was “ready to solve” its water supply deficit.

NationWide

Heavy security as by-election holds in Ogun

Security personnel from the police and the NSCDC were seen manning each polling unit to maintain law and order.

University of Benin Teaching Hospital

States

UBTH CMD bows out, celebrates eight years of strike-free tenure, reforms

Mr Shaibu also praised Mr Obaseki’s role in shaping Edo State’s immunisation framework.

The Independent National Electoral Commission (INEC)

States

Low voter turnout as Ibadan North Federal Constituency by-election begins

INEC officials arrived as early as 7:30a.m.at various polling centres but few voters turned out.

Opeyemi Agbaje

Heading 1

Tinubu appoints Opeyemi Agbaje PENCOM chairman

Mr Agbaje writes on Nigeria’s economic policies.