The Vice President Yemi Osinbajo has launched the TraderMoni in three more markets in Lagos.
Osinbajo, who led other federal and state government officials to Ikotun, Igando and Ile Epo markets recently, also urged the traders to make judicious use of the loans to secure more from federal government.
While interacting with the traders, Osinbajo said the objective of the scheme would be defeated if traders do not repay the loan to secure more from the government.
According to him, “This is one initiative that this administration has put in place to address the plights of those at the grassroots. To help you grow your businesses and make lives more meaningful to you and your families.
“That’s why we ensure there is no collateral, and when you repay the loans, you can secure more from the government because it shows you are serious with what you are doing.”
Some of the traders who spoke to journalists at the event applauded the gesture by the governments, but pleaded for more loans, saying they would be willing to boost their trades and businesses with as much funds as possible made available to them.
Yemisi Babalola, a salt trader at the Ikotun market expressed readiness to invest the money in her trade.
She said although she would really want the money to be increased, she was nonetheless going to make judicious use of the initial fund to qualify for more loans.