FG inaugurates GEEP 2.0 to lift 100m Nigerians out of poverty

The Federal Government on Tuesday in Abuja inaugurated the restructured Government Enterprise and Empowerment Programme (GEEP) now known as GEEP 2.0. to lift 100 million Nigerians out of poverty.

Hajiya Sadiya Umar Farouq, the Minister of Humanitarian Affairs, Disaster Management and Social Development, speaking during the inauguration said the programme was a veritable tool designed to end poverty in many ways.

She said that GEEP was one of the components of the National Social Investment Programme (NSIP).

According to her, the initial GEEP targets the unbanked poor and vulnerable but skilled population that have always been left out on credit delivery programmes and is directed at providing soft and affordable loans to finance their businesses.

“The GEEP is innovatively targeted and delivered under three unique products – the TraderMoni for marginalised youths, The MarketMoni targets vulnerable women, and the FarmerMoni specifically focuses on rural farmers.

“With President Muhammdu Buhari’s gracious approval of expansion to provide loans to an additional one million beneficiaries with emphasis to targeting small holder farmers in the year 2020/2021, the GEEP has been restructured and is being flagged-off today as GEEP 2.0.

“The GEEP 2.0 is structured to effectively deliver soft loans and skills to a wide range of unemployed citizens including persons living with disability, marginalised women and unemployed youths amongst other vulnerable groups in our society.

“I wish to state here that the GEEP 2.0 is well coordinated and has an implementation model that accommodates representation at the Federal, State and Local Government levels,” Farouq said.

Farouq said that part of the new strategies include an increase in the loan portfolio of TraderMon/ and Market Moni loans from N10, 000 to N50,000, while the FarmerMoni is now N300,000.

“There is also the provision of value chain and creation of digital marketplace (E-platform) for beneficiaries to sell their products.

“In addition, there is a digital integration and coordination platform along with a strong and centralised monitoring and evaluation system aimed at enhancing loans recovery.’’

Speaking, the Minister of Youths and Sports, Mr Sunday Dare who also represented the Secretary to the Government of the Federation, Mr Boss Mustapha said he was delighted at the inauguration of the GEEP 2.0.

Dare said whenever he saw other ministries that helped in reducing the burden of youths unemployment from his ministry, he was happy, adding that youths were the biggest beneficiaries of NSIP.

Similarly, Mr Clem Agba, the State Minister of Financial, Budget and National Planning said his ministry had been on the forefront of ensuring human dignity and protecting households from poverty.

Meanwhile, the Minister of Women Affairs, Mrs Pauline Tallen said women and youths were always affected by humanitarian crisis and poverty.

Tallen said that the GEEP 2.0 would now help the poor and marginalised women and youths who did not have collateral to secure loans.

Also, the Minister of State for Education, Mr Chukwuemeka Nwajiuba said that the inauguration of the GEEP 2.0 was an indication to show that President Buhari meant it when he said he wanted to lift 100 million Nigerians out of poverty in 10 years.

“It is evident that as we collaborate and corporate with all hands on deck, we shall achieve the ultimate objectives of the programme.”

Dr Garba Abari, the Director-General, National Orientation Agency (NOA) said the agency would work with state programme managers and focal persons toward the success of the NSIP.

Meanwhile, the Team Lead of the GEEP 2.0, Ms Zainab Musawa said that intended beneficiaries would be effectively supervised and monitored by desk officers in all 774 local government areas, state progamme managers and the ministry in partnership with NOA.

“Essentially, GEEP 2.0 is a continuation of the Buhari administration’s laudable empowerment drive committed to the upliftment of oppressed Nigerians and we hope the programme will engender job creation.”

Ms Hadiza Hambuza, a representative of Access Bank Plc said the bank would work with the beneficiaries to achieve the objectives of the programme.

The event attracted officials from Presidency, National Assembly, NEMA, EFCC, FCTA Disability Commission among others. (NAN)