GEEP Loan: FG Engages 98,000 Beneficiaries For GEEP 2.0 Programme

how to apply for geep loan

FG has Engaged 98,000 Beneficiaries For GEEP loan 2.0 Programme.

The Federal Government has said it has engaged 98,000 beneficiaries for the GEEP Loan 2.0 Programme. Ejes Gist Newspaper reports

This was contained in a statement issued from the office of the Ministry of Humanitarian Affairs, Disaster Management, and Social Development, signed by Nneka Ikem Anibeze.

See : GEEP loan application portal 2022: How to apply for Geep loan, Geep Loan Login Portal, Requirements

The statement reads as follows:

Massive Recruitment at the Nigerian Electricity Regulatory Commission (NERC) – APPLY NOW

The Ministry of Humanitarian Affairs, Disaster Management, and Social Development has finalised plans to implement GEEP 2.0 in all 36 states and the Federal Capital Territory.

Read Also : List Of Federal Government Grants To Apply Now In 2022

This comes after the final screening of Phase 1 applicants who met the criteria and were chosen to receive small loans ranging from N50,000 to N300,000.

In the coming days, all GEEP 2.0 beneficiaries will receive congratulatory and sensitization text messages informing them of their qualification and re-emphasizing that the empowerment programme is a loan, not a grant, according to Minister Sadiya Umar Farouq.

“All qualified beneficiaries will receive disbursement alerts in the near future.” We’d like to remind everyone who qualifies that this is an interest-free loan. It isn’t a grant or a gift from the government. It’s a low-interest loan that must be repaid within nine months.”

Minister Umar Farouq also stated that the Ministry intends to roll out the programme across the country, followed by an enumeration exercise to collect biodata from beneficiaries.

Read Also : Jamb Latest News: JAMB drops crucial information regarding 2022 Mock Exam

Under its three flagship schemes: , , and , the GEEP loan scheme designed by the Federal Government to provide financial inclusion and credit access to poor and vulnerable individuals, including persons with disabilities and those at the bottom of the economic pyramid who are engaged in small-scale commercial activities.

Related Terms

Tradermoni aims to uplift underprivileged and marginalised youths in Nigeria between the ages of 18 and 40 by providing them with loans of N50,000, whereas MarketMoni aims to uplift underprivileged and marginalised women between the ages of 18 and 55, including widows, divorcees, and other vulnerable groups. They are given interest-free loans of N50,000 that must be paid back in 6 to 9 months.

Read Also : Thomas Sankara: Court sentences ex-Burkina Faso President to life in prison

FarmerMoni is a platform for Nigerian farmers aged 18 to 55 who work in the agricultural sector and live in rural areas. They are given loans of up to N300,000 for agricultural input. This plan has a 12-month duration, which includes a 3-month moratorium and a 9-month repayment period.


Related Terms 

2.0 Programme

?: Is a Government Enterprise Empowerment Programme (GEEP) is one of the 5 NSIP Programmes. GEEP was launched in 2016 with the aim to offer interest and collateral free credit to the millions of Micro SMEs (MSMEs) operating at the bottom of the Nigerian economic pyramid. The program has leveraged 3 loan products, so far, to support small to medium-sized to apply for geep loan



Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.