FG Announces ₦100k Interest-Free Loans for Nigerians and Traders Under GEEP Scheme
The Federal Government has announced the rollout of interest-free loans of up to ₦100k for smallholder farmers, petty traders, and entrepreneurs across Nigeria under the Government Enterprise Empowerment Programme (GEEP). The loans, to be disbursed by the end of 2025, aim to reduce poverty, support informal businesses, and drive economic growth.
Beneficiaries, including farmers engaged in poultry, aquaculture, crop production, and livestock rearing, can access loans without collateral or interest, with repayment commencing after a grace period. The scheme, part of the National Social Investment Programme, will be monitored to ensure accountability and sustainability.
Stakeholders have welcomed the initiative, emphasizing the need for broader structural support in the agricultural sector to maximize its impact. The program is set to pave the way for wider implementation by 2026, benefiting more Nigerians and promoting financial inclusion.
Plus234Feed summary based on reporting from Legit NG. Read the original report below.
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