Osinbanjo Flags Off Trader Moni In Delta, Targets 2 Million Traders

     As part of efforts to reduce poverty to its barest minimum, Nigeria’s Vice, President,  Prof. Yemi Osinbanjo on Friday flagged the “Trader Moni Scheme” in Delta State.
    Prof. Osinbanjo flagged up the programme when he visited the Olu of Warri Kingdom, HRM. Ogiame Ikenwoli at his Aghofen Palace in Warri.
    VP Prof. Osinbanjo in a remark noted that the “Trader Money Scheme” is one of the schemes that was initiated by Nigeria’s President Muhammadu Buhari.
    While pointing out that members of the National Assembly approved the “Trader Money Scheme”, Prof. Osinbanjo said some of them no longer support it.
    Prof. Osinbanjo also stated that the first phase of the ” Trader Money Scheme ” will be targeting two million taders with a view to supporting their businesses as well as reducing poverty and empowering them.
    “Today, am here to Flagg off what we know as the trader money scheme. The trader money scheme is one of those schemes that was initiated by President Muhammadu Buhari.
    Prof. Osinbanjo explained,  “We’ve looked at the whole commercial landscape of Nigeria. The largest number of people engaged in commerce, are petty traders.
    “They are small traders. Table top trader.  Some of them are selling under tries. Their inventories is usually not morethan two thousand naira, three thousand naira and five thousand naira.
    “The President then decided following an experience he had with the Katsina foundation which he was chairman of that,   it is better to give these petty traders some money as a loan, ten thousand naira, when they pay back the ten thousand, we give them fifteen thousand naira, when they pay back the fifteen thousand naira, we give them twenty thousand naira and we keep increasing all the way up to hundred thousand naira so long as they pay back.
    ” That is the design of the trader money because we want to enable at the lowest rung of the ladder and we strongly believe that is a way to empower.
    Prof. Osinbanjo expressed confidence that, the “The trader money” is the right thing for our people.Our people deserved to be helped, they deserved to be supported.”
    According to Prof. Osinbanjo,”We will be at two markets including the Warri market. The Ughelli market, off course we will be there but that will be in January. We are going to do extensive work.
    “The market here  in Warri, we are starting today. The enumerators will be here going and coming up until January until we are to satisfy locals who are here because we intend to ensure that  the traders as possible get it.
    ” We have another programme which we call “Market Money” . That’s not traders money. That’s for very senior traders. They’re but bigger than the petty traders. It will be between a hundred thousand to three fifty thousand and even five hundred thousand naira.
    “Once we are able to give those who are in that bracket, once they pay back, we will open bank account for them. Through the bank account, they will be able to have insurance, health insurance coverage for themselves so that they too can become proper business people rather than just petty traders and we’ll guide them all the way, step by step in their own objectives as per business people in this Country.
    In a remark,the Olu of Warri Kingdom, HRM. Ogiame Ikenwoli who spoke through Chief Charles.D.Ikimi said the Vice President should not fail in fulfilling its promises to the traders.
    The reverred monarch who spoke in pidgin English stressed that,”The two categories of traders you talk about so, dey are here,  plenty dey wait.
    ” Before, them dey see oil company motor for town dey drive dey come but now as dem pack go Port-Harcourt, as dem go other places, the people dey hungry. Christmas nai reach so, we nor see better inside.”
    The Olu of Warri Kingdom said if the Vice President released the money for the traders, their businesses will improve.
    He also appealed to the Vice President to ensure that the benefits which he enjoys in Abuja, West and the North part of this country  should trickle down to his people in Warri saying,”Oil exploration have devastated our land.”
    Earlier,the former Governor of Delta State,Dr. Emmanuel Uduaghan welcomed the Vice President, Prof. Yemi Osinbanjo and his entourage to the palace of the Olu of Warri Kingdom.
    In attendance were the Sen. Ovie Omo-Agege, Chief Great Ovedje Ogboru, Prof. Patrick Utomi, Dr. Alex Ideh and host of others.


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