Osinbajo visits Edo, says governemnt tackling unemployment crisis
Consequently, the President Muhammadu Buhari administration, according to him, had introduced what he called trader-money initiative to assist the poorest of traders as well as check the nation’s poverty and unemployment rate.
Speaking yesterday in Benin City during the tour of the 14th Micro, Small and Medium Scale Enterprises (MSME) clinic organised by the Edo State government, Osinbajo noted: “The new micro credit scheme, which we call trader-money is different from the market money because it is for the smaller traders, hawkers and those who are selling bread as well as those frying akara (beans cake) by the roadside and selling roasted plantain.
Those doing the small little things where in many cases, their inventory is sometimes not even more than N5000 to N10,000, we want to give them some credit and once they pay back, we will give them some more money.
We want to make sure that the very poorest trader, no matter how poor you are so long as you are trading, the Federal Government will support you and that is what we call trader-money so that every Nigerian who wants to work could do something very reasonably.”
He said members of the NPower programes would be deployed to take inventory of traders that falls into this category.
Besides, he said the central administration, in collaboration with the state governments “is putting solar power in all our markets so that they will have energy for hair-dressing, dress-making and other activities for the betterment of the citizenry.”
Governor Godwin Obaseki said his administration was tackling illegal migration and opening job opportunities for youths in the state.
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