Get ready for a significant initiative from the Federal Government set to launch in November – the IYALOJA MONIE Scheme. Under the leadership of Dr. Betta Edu, the Minister of Humanitarian Affairs and Poverty Alleviation, market sensitization and engagement are underway as part of the Government Enterprise and Empowerment Programme (GEEP).
The primary goal is to extend a non-interest loan of N50,000 to approximately 1.5 million market women, aiming to boost their capital and expand their businesses. Renewed Hope: List Of Ongoing Empowerment Programs In Nigeria
HERE ARE FIVE ESSENTIAL INSIGHTS INTO THE IYALOJA LOAN SCHEME:
1. Three-Phase Implementation: The program will roll out in three phases, with the first phase benefiting 500,000 individuals.
2. Targeted Market Traders: Phase 1 of market traders, selected from 109 markets across every Senatorial Zone in Nigeria, will receive the non-interest IYALOJA Market Fund loan of N50,000.
3. Fulfilling a Presidential Promise: This sensitization and enrollment process aligns with the President’s commitment to alleviate Nigerians’ multidimensional poverty and humanitarian crises. It’s a step towards providing essential support to those who need it most.
4. Empowering Market Women: The IYALOJA Monie Scheme is designed to empower impoverished market women by bolstering their capital and fostering business expansion. These non-interest loans are a lifeline for individuals looking to improve their livelihoods.
5. Launch Date: The IYALOJA Loan Scheme is scheduled for launch in November 2023, offering fresh hope and opportunities for market women across the nation.
IYALOJA Monie Scheme: What You Need to Know before applying. Stay tuned for more updates as this transformative scheme comes to life, making a positive impact on the lives of countless market traders in Nigeria.
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