The Federal Government has launched a new scheme to support farmers, petty traders, and small business owners with interest-free loans of up to ₦100,000. The programme, which falls under the Government Enterprise and Empowerment Programme (GEEP), will begin before the end of 2025 and is designed to fight poverty and boost small businesses across Nigeria.
Speaking in Kaduna during a meeting with traders and business groups, programme officials explained that the loans will be given under three categories: FarmerMoni, TraderMoni, and MarketMoni. Farmers involved in crop production, poultry, aquaculture, and livestock rearing will get support through FarmerMoni to buy fertilisers, veterinary drugs, and farm tools. Petty traders and youth entrepreneurs will receive loans under TraderMoni, while women running small-scale businesses will benefit from MarketMoni.
One key feature of the scheme is that the loans will not require collateral or attract interest, making them easy to access for Nigerians who cannot get support from banks. Loan amounts will range from ₦5,000 to ₦100,000, depending on the business type. Beneficiaries will also enjoy a six-month grace period before repayment begins, giving them enough time to invest the money and grow their businesses.
Officials stressed that the loans are not free money but repayable funds meant to help Nigerians build sustainable businesses, create jobs, and join the formal financial system. They also assured that strong monitoring systems and community involvement will be used to prevent abuse. Cooperatives, traders’ associations, and GEEP desk officers will handle selections in all 774 local government areas to make sure the right people benefit.
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This is not the first time GEEP is being implemented. The scheme, which first started in 2016, has been restructured to fix past issues with delivery and accountability. The government says the 2025 rollout will serve as a pilot ahead of a full-scale expansion across Nigeria in 2026.
Many market leaders and grassroots associations have welcomed the development, describing it as a bold move that will change lives. Some traders called the intervention “a lifeline” and urged the government to expand it quickly so more people can benefit.
The GEEP loan programme is part of the broader National Social Investment Programme (NSIP), which also includes Conditional Cash Transfer, Home-Grown School Feeding, and Grants for Vulnerable Groups. Together, these initiatives aim to reduce poverty, promote financial inclusion, and improve livelihoods nationwide.
In a related development, Vice President Kashim Shettima recently unveiled a modern ICT centre for Micro, Small and Medium Enterprises (MSMEs) in Cross River State. The project, launched during the 8th Expanded National MSME Clinics, is designed to give entrepreneurs digital skills and tools to run their businesses more effectively.
With both loan support and digital empowerment, the Federal Government says it is determined to strengthen small businesses, create jobs, and drive Nigeria’s economic growth.
