Traders in Akwa Ibom State react to FG’s proposed loan of ten thousand naira

Some Traders in Akwa Ibom State have reacted to the recently proposed loan of ten thousand naira by Federal Government saying the amount should be increased.

Speaking in a vox-pop with our correspondent, Mary Obisung some respondents said that their businesses demand more than what the Federal Government is proposing and as such, they may not fully enjoy the loan.

They therefore appeal to the Federal Government for an increase in the proposed loan to enable them buy more goods and establish their businesses to make good profits and be able to pay back when due.

Recall that the federal government through the Bank of Industry and Government Enterprise and Empowerment Program recently launched ‘Trader Moni initiative’, designed to help petty traders expand their trade through the provision of collateral free loans of ten thousand naira repayable within a period of six months.

Under the scheme, beneficiaries can get access to a higher facility ranging from 15,000 to 50,000 naira when they repay the initial N10,000 naira within the stipulated period.

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