TraderMoni: N20,000 and N50,000 Grants from the FG:
Updates on TraderMoni FG Grant Disbursements: The Federal Government has begun disbursing N20,000 and N50,000 to “vulnerable” Nigerians.
The Federal Government has started giving grants and loans worth 20,000 to 50,000 Nigerian naira apiece to 5,485 “vulnerable” young people and women as part of the Government Enterprise and Empowerment Programme. These services are offered by the TraderMoni and MarketMoni programs (GEEP).
The payments will start today in the states of Delta and Bayelsa, according to a statement made by Sadiya Farouq, who is the minister of humanitarian affairs, crisis management, and social development.
The minister visited both states on Wednesday to make the payout announcement and to express his sympathies to the locals in light of the recent floods that had occurred there.
She explained in Delta that the GVG (Grant for Vulnerable Groups) initiative aims to provide a one-time cash grant of N20,000.00 to the neediest and most vulnerable Nigerians in rural and peri-urban areas throughout the 36 States of the Federation and the Federal Capital Territory.
The GVG (Payment for Vulnerable Groups) initiative aims to provide the poorest and most vulnerable Nigerians in rural and peri-urban areas with a one-time cash grant of N20,000.00. We want to award the prize to around 3,000 outstanding people within the state of Delta, one in each of the state’s 25 local government districts.
It must be made plain that children must make up 30% of the receivers, with women constituting 70% of the total. Additionally, the President mandates that at least 15% of all recipients go to people with exceptional needs. These residents include local older citizens, those with disabilities, and people who have been internally displaced.
In addition to giving loans totaling N50,000 to “underprivileged and marginalized youths in Nigeria aged between 18 and 40 years,” N50,000 to “underprivileged and marginalized women in the society with a special focus on female-headed households,” and N50,000 to “underprivileged and marginalized youths in the society aged between 18 and 40 years,” according to Farouq, the GEEP program will lend a total of N300,000 to rural farmers.
A total of 33,838 potential beneficiaries were registered during the first round of GEEP 2.0 across the 28 LGAs that make up Delta State. 4,754 of those 11,991 votes were counted after they were determined to be valid. 4,657 individuals were ultimately chosen to get financial assistance. The state of Delta is now preparing to formally launch the program after compiling a list of persons who were chosen to take part in it. By the grace of God, recipients of the GEEP who have been chosen to receive credit notifications from Access Bank may start doing so right away.
The minister also stated that in order to lessen the pain of those affected by the country’s flood disaster, President Muhammadu Buhari had approved the release of “12,000 metric tons of different food commodities from National Strategic Reserve.” As a result, 105 metric tons of maize, 88.7 metric tons of sorghum, and 98.7 metric tons of garri would be given to the State’s flood victims.
Farouq claims that 828 of the 8,762 applicants for aid in Bayelsa were chosen to get assistance from the programs.