Friday 31st March, 2017
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GEEP: FG captures 8,436 market associations, to commence in 8 states

GEEP: FG captures 8,436 market associations, to commence in 8 states

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.

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