About 2,855 vulnerable households have benefited from the Federal Government Enterprise Empowerment Programme (GEEP) 2.0. in Akure , the Ondo State capital.
The minister of humanitarian affairs, disaster management, and social development Sadiya Umar Farouq who launched the national phase of the program in Akure , noted that GEEP 2.0) is designed for vulnerable and low-income Nigerians involved in commercial activity/capacity but have never had the opportunity to access loans.
Farouq also disbursed N57.3 million as Grant for Vulnerable Groups (GVG) to 2,866 households across the 18 local government areas of Ondo State as part of its National Social Investment Programme (NSIP).
Speaking at the programme, the minister who was represented by the Director of Finance and Administration (DFA), Mathew Dada, said that about 1,142,783 potential beneficiaries were registered across the 774 LGAs, with 19,155 potential beneficiaries registered in Ondo State.
At the inauguration of the grants, Farouq said GVG is designed to provide a one-off cash grant of N20,000 to the poorest and most vulnerable Nigerians in rural and semi-urban areas across Nigeria.
According to her, “It is worth noting that 70 per cent of these beneficiaries must be women, while the remaining 30 percent is for youths.
“Mr President has further directed that at least 15 percent of the total number of beneficiaries must be allocated to citizens with special needs, including persons with disabilities (PWDs) and senior citizens in the state.
“GEEP is captured in three signature schemes, namely the TraderMoni loan of N50,000, targeted towards uplifting underprivileged and marginalized youths between 18-40 years in Nigeria.’’
Addressing the gathering, the Ondo State Governor Oluwarotimi Akeredolu , represented by his deputy, Hon. Lucky Aiyedatiwa said his government was highly delighted with the initiative as it would provide the needed capital for beneficiaries in an easily accessible way to grow their businesses.
