Osinbajo launches TraderMoni in Cross River State

Presents 150 tricycles to market women, youths under Ministry of Niger Delta Affairs programme

Vice President Yemi Osinbajo, SAN, on Tuesday flagged off Federal Government programme tagged Trader-Moni at the popular Watt Market in Cross River State.

Trader-Moni provides petty traders collateral-free loans of N10,000. The loans are repayable over a period of six months.

Under the scheme, beneficiaries can get access to a higher facility ranging from N15,000 to N50,000 when they repay N10,000 within the stipulated time period.

The programme is also in line with the Federal Government’s agenda to eradicate poverty and improve the lives of Nigerians at the bottom of the pyramid, especially petty traders regardless of socio-political background.

TraderMoni was first launched on August 7, 2018 in Lagos State. Already the micro-credit scheme has been introduced in the following States; Kano, Abia, Akwa Ibom, Katsina, Osun, Abuja, FCT and Kogi.

Meanwhile, the Vice President also presented 150 tricycles to market women and youths in Cross River State as part of an empowerment programme of the Ministry of Niger Delta Affairs.

Osinbajo said the initiative is one of the laudable empowerment programmes for women and youths being implemented by the Ministry of Niger Delta Affairs.

He said the programme also consists of poultry production and its value chain, fisheries production and its value chain, snail production and its value chain, production of confectioneries, production of soap, detergent, and various fields of artisanship among others.


According to The Nation, the Minister of Niger Delta Affairs, Usani Uguru Usani, said the event was a continuation in the series of empowerment through the provision of tricycles for women and youths in the region.

The Minister said similar presentations has been carried out in Warri, Delta State, adding that with the implementation of the 2018 budget, other States of the region will soon be covered.

He said, “May I emphasize here that this empowerment programme is aimed at achieving some cardinal objectives which include the improvement of transportation access, enhancement of economic activities in the state, haulage of imputes to and from the farm, and the fulfillment of other ancillary activities such as mechanics, vulcanizers, panel beaters and electricians.

“It is my hope and desire that this initiative of government will translate in improving peace and development in the state, and indeed the region.”