About 8,436 market associations and cooperatives have been captured nationwide under the General Enterprise and Empowerment Programme (GEEP) as disbursement begins in eight states including the Federal Capital Territory.
According to a paper obtained from the Presidency on Monday in Abuja, President Mohammadu Buhari is meticulously implementing the N500 billion social investment programmes in spite challenges of declining revenues.
The paper, however, did not name the eight states presently benefiting from GEEP which is one of the four social intervention programme of the Federal Government.
The programme is a loan scheme with no interest element and only a five per cent administrative fee for costs to more than 1.2 million Nigerian artisans, traders, market men and women, as well as women cooperatives.
GEEP which is estimated to gulp N140 billion is being disbursed through the Bank of Industry. The loans range from N10,000 to N100, 000 per applicant.
The programme, is designed to ensure that states and local government areas buy-in, as well as community ownership, for the building of capacity and sustainability within those jurisdictions.