The Federal Government has announced plans to disburse interest-free loans of up to N100,000 to smallholder farmers and micro-businesses across Nigeria before the end of 2025.
National Programme Manager of the Government Enterprise and Empowerment Programme (GEEP), Hamza Ibrahim Baba, disclosed this in Kaduna during an engagement with traders' associations and stakeholders in the informal business sector.
He explained that the loans, under the FarmerMoni scheme, will support small-scale farmers engaged in poultry, aquaculture, livestock, and crop production. Beneficiaries will enjoy a six-month moratorium before repayment begins, enabling them to invest in farm inputs such as fertilisers, livestock, and veterinary drugs.
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Baba stressed that GEEP offers collateral-free, interest-free loans through its three schemes: TraderMoni for petty traders, MarketMoni for women in small-scale trade, and FarmerMoni for rural farmers. Loan amounts range from N5,000 to N100,000.
"These are not grants but loans designed to lift Nigerians at the bottom of the pyramid, expand businesses, and create jobs," he said.
He urged traders' associations and cooperatives nationwide to work closely with GEEP Desk Officers to ensure fair and transparent beneficiary selection.
Beneficiaries and market leaders who spoke with NAN commended the initiative, describing it as a lifeline for small businesses.
