Over 7,000 Beneficiaries to receive Cash Grants, Geep Loans – FG

Over 7,000 Beneficiaries to receive Cash Grants, Geep Loans – FG

The Federal Government will begin the disbursement of cash grants for vulnerable groups in Nigeria. Minister Umar Farouq said at least 3,894 beneficiaries across the 27 Local Government Areas of the State will receive a twenty thousand Naira one-off Cash Grant for Vulnerable Groups in Imo state while about 4,738 beneficiaries were selected for the Government Enterprise Empowerment Programme interest free loans.

 

The Minister stated that the beneficiaries will receive loans ranging from N50,000 to N300,000 for farmers, petty traders, widows and youths.

 

Latest news: INECAdhoc Staff Recruitment for 2023 General Elections

 

“This is a programme designed by President Muhammadu Buhari administration for vulnerable and low-income Nigerians who are involved in some sort of commercial activity or capacity but have never had the opportunity to access loans.

 

It is meant to give priority to the most vulnerable in our society e.g., widows, youth, disabled and the displaced amongst others”.

 

In Abia state, the Minister who was represented by the Director Special Needs, Mrs Nkechi Onwukwe also launched the GEEP 2.0 with 4,108 beneficiaries.

 

You may also like: Latest News on NEXIT loan and N-Power Batch C.

 

3,107 will receive twenty thousand naira each as Cash Grants to Vulnerable Groups while twenty-seven Independent Monitors were on-boarded in Abia state and given engagement letters as well as monitoring devices.

According to Umar Farouq, “While the target of this Cash Grant project is to increase income and productive assets of the target beneficiaries, it is highly expected that the beneficiaries will use the grants to improve their productivity, create wealth, generate employment and improve their living standard”.

Over 7,000 Beneficiaries to receive Cash Grants, Geep Loans – FG