FG Resumed Disbursement OF N50000 To GEEP 2.0 Beneficiaries
FG Resumed Disbursement OF N50000 To GEEP 2.0 Beneficiaries – Following President Muhammadu Buhari’s confirmation of pending payments to N-SIP program recipients, the Federal Government has resumed disbursement of N50,000 to GEEP 2.0 beneficiaries.
The Nigeria GEEP 2.0 program is a government-led project aimed at providing interest-free loans to Nigerian small business owners, traders, craftsmen, and farmers. GEEP is a bacronym that stands for Government interprise and Empowerment Program.
The Government Enterprise and
Empowerment Program (GEEP) Portal, which is run by the Bank of Industry (BOI), a Nigerian development finance institution, disburses loans under the GEEP 2.0 program.
TraderMoni, MarketMoni, and
FarmerMoni are the three loan products available through the GEEP 2.0 initiative. With variable loan amounts and repayment conditions, each loan product is tailored to a certain group of recipients.
The TraderMoni loan is intended for small traders and craftspeople, while the MarketMoni loan is intended for small business owners and the FarmerMoni loan is intended for smallholder farmers. The loans are interest-free and repayable over a six-month to one-year period.
The GEEP 2.0 initiative has been praised for its efforts to help small companies and alleviate poverty in Nigeria. Concerns have been raised concerning the program’s long-term viability, as well as the need to ensure that loans are distributed equitably and transparently.