The Vice President, Prof. Yemi Osinbajo, has assured traders across markets in Kaduna State that they stand the chance of securing more loans from the Federal Government if they are able to repay the initial ones being disbursed under the Tradermoni scheme.
The vice president said this while on a visit to the Abubakar Gumi Central Market, Kaduna, to launch the state’s edition of the scheme.
Osinbajo who was accompanied by Gov. Nasir el-Rufai and other dignitaries, went round the market to acknowledge beneficiaries and encourage them to judiciously use the loan.
Speaking at the launch, Prof. Osinbajo said when the traders repaid the collateral-free loan of N10,000, they qualified for higher sums of N15,000, N20,000, N50,000 and N100,000.
He said the loan was meant to empower them to expand their businesses.
One the beneficiaries, Mrs. Esther Onne, said the money would go a long way to drive her foodstuff business.
“I have heard about the success of the scheme in other parts of the country, but I thought it would be politised, but to my surprise, it is a very fair process and I have received the money and I immediately invested it in my business,” Onne said.
Another trader, Jafar Abubakar, said he was delighted that the process of accessing the money was very easy and did not require him to provide any documents or qualifications. He said the money will be used in expanding his business.
“I will use the N10,000 to buy more ginger and garlic which will help me sell more. I am grateful to the Federal Government and I will repay the loan,” he said.