By Segun Awofadeji in Bauchi
Beneficiaries of the Trader Moni in Bauchi State have commended the Federal Government for introducing the programme which saw each trader getting a loan of N10, 000 to boost their businesses.
They also pleaded with the Federal Government to sustain the initiative so as to accommodate more traders and artisans in the state.
THISDAY checks revealed that about 11, 000 Traders and Artisans in the State had enrolled into the initiative, Trader Moni.
Investigations carried out in Muda Lawal market by our correspondent, indicated that already 8, 000 beneficiaries have so far received their free interest loan of N10, 000 each.
Vice President Yemi Osinbajo who was in Bauchi State last Tuesday to launch the programme said Bauchi was the 21st state to benefit from the Federal Government’s intervention.
Osinbajo who personally visited the Muda Lawal market, called on the beneficiaries to make good use of the funds to boost their business activities.
The traders are expected to pay back the loan within six months after which they can be given another loan and after payment, it will be reviewed upwards periodically.
Some of the Muda Lawal Traders who spoke to our Correspondent said that the loan would help them boost their businesses.
They said the Buhari-led government had shown that it has good intentions for all Nigerians.
Abdullahi Ibrahim who sells sweet potatoes in the market said he had been managing his business with the little capital he has.
He said with this loan, he hoped to expand his business which would yield him more profit to enable him provide food for his family.
“I am very happy for this N10, 000 loan from the Federal Government because it will help me boost my business.
“I used to buy this potatoes using between N3, 000 and N4, 000 but now, with this money, I will be able to buy up to three bags to sell and my profit will triple. And from it, I’ll have enough to feed my family and solve other family issues.
“This is a great initiative. We were actually expecting this government to do something like this for the masses because we voted for them with great expectations and we have started seeing the benefit,” Ibrahim stated.
Another trader, Adamu Garba said this loan will help him double his profit.
He said: “This is a very good help to us the petty traders because it will make our businesses grow. As you can see, I see tomatoes, onions and peppers, and by the time I add N10, 000 to this business, I’ll make twice the profit I make weekly.”
Garba said six months was too long a time to pay back the loan declaring that “I am determined to finish paying this loan in three to four months’ time so that I can access the N15, 000 to also invest in my business.”
He said: “this is a proof that Buhari has us at heart and has good intentions for this country. We can only pray that he wins the election so he can continue with this good work he has started.
“For me, this loan is timely because it came at a time I was struggling to make ends meet but with this, I know things will improve a little bit better than they were before.
“I will invest this money, the whole of it into my business and I know that I will pay on time and also collect another one. The government should please continue with these interventions.”
Hafsat Aminu called on the Federal Government to increase the amount of the loan.
According to her, “I got the money and although this is commendable but the money is too small, it can’t do much.
“It cannot buy me another grinding machine but, I still thank God and Buhari for the money. I’ll use it to buy another engine head.”
She expressed optimism that she will finish paying back the loan immediately and collect the N15, 000 promised traders who faithfully pay back the money.
A meat seller who gave his name only as Suleiman told our Correspondent that he was sure he would pay back the loan within the stipulated period.
“I got this money today although it is not that much but I will invest it in my business and I can assure you that it will yield profit for me.
“I will be paying back this loan little by little and within these six months, I will finish, collect another loan as they have promised us. We are really happy with this government because over 80 per cent of traders in this market got this money and they are excited about it.”
Suleiman prayed that Buhari returns for a second term as president “so they he can continue with this wonderful things he is doing”.