GEEP empowers 350,000 MSMEs

Some MSMEs in Nigeria

A total of 350,000 micro enterprises across the 36 states of the federation have benefited from the Federal Government Enterprise and Empowerment Programme (GEEP) MarketMoni scheme.

The Executive Director, Bank of Industry (BoI) Mrs. Toyin Adeniji, said this at the Kano edition of Micro Small and Medium-scale Enterprises clinic that GEEP MarketMoni was a Federal Government Social Intervention Programme that provides interest-free loans of N10,000 to N100,000 to micro-enterprises, the segments of society with the greatest difficulty accessing credit.

Adeniji revealed that under the GEEP MarketMoni scheme, BoI had given out more than 350,000 microcredit loans across the country.

Speaking at the event, Special Assistant to the Vice President on MSME, Tola Johnson, said, “The best thing that has happened to micro-businesses in Nigeria is the GEEP MarketMoni programme.”

He explained that of the 37 million small businesses in Nigeria, 36.9 million were micro-enterprises.