FG says GEEP initiative will combat extreme poverty through N150 billion in micro-loans and vocational programs for underserved communities.
FG says GEEP (Government Enterprise and Empowerment Programme) will undergo a major expansion to address Nigeria’s 40% extreme poverty rate.
Before 2026 Vice President Kashim Shettima will distribute N150 billion worth of interest-free loans to 4.5 million intended recipients.
This second-phase rollout specifically targets:
- The government plans to give interest-free loans worth N150 billion to 4.5 million beneficiaries before 2026 among market women in 700 rural clusters.
- Artisans in Lagos, Kano, and Aba industrial hubs
Workers in the agricultural value chain of 12 states that produce food will receive this assistance.
GEEP’s redesigned digital system will prevent the previous occurrence of ghost beneficiaries according to the FG.
The application process is now protected through biometric verification and blockchain tracking after the 2023 fraud scandals.
Economists studying development support this program when it is managed correctly.
The Founder of GEEP and former Minister for Finance Dr. Ngozi Okonjo-Iweala declared during the program launch in Abuja that “N50,000 seed capital can triple a petty trader’s income.”
The recovery results from Phase 1 need significant improvement because they achieved only 22% success.
Unlike previous attempts, this iteration partners with:
- MTN for USSD applications
- NIRSAL for agricultural linkages
- UNDP for impact tracking
The FG supports GEEP as part of Tinubu’s Renewed Hope Agenda yet legislative opponents see it as a political strategy for voting periods.
The program developed by the Federal Government in 2024 failed due to the fact that 60% of the loans issued under TraderMoni remained unpaid.
This week marks a new phase for beneficiary registration under the Northern Nigeria field operations while the world closely observes the program’s ability to produce measurable outcomes before the 2027 elections.
