Osinbajo inaugurates disbursement of capital to two million traders

Ifeanyi Onuba, Abuja
Vice President Yemi Osinbajo on Thursday began the disbursement of start-up capital for 39,000 petty traders in the Federal Capital Territory.
The disbursement is part of the current administration’s drive to empower over two million petty traders across the country through a commercial loan scheme tagged “Trader moni.”


The scheme being implemented by the Bank of Industry allows each beneficiary to get an interest free loan of between N10,000 to N15,000.
The interest-free loan is part of the social intervention programmes under the President Muhammadu Buhari led administration.
The VP also inaugurated a One-Stop-Shop to address some of the impediments to the growth of Micro, Small and Medium Enterprises in the country.

Osinbajo commissioned the facility which is located at the headquarters of the Abuja Enterprise Agency.
The centre would provide MSMEs with support services to grow their businesses.

Some of these support are access to finance, enterprise development and regulatory support in areas such as business registration, tax-related issues, and export promotion.

The VP while speaking at the event said the establishment of the centre underscored the effort of the administration of President Muhammadu Buhari to creating an environment that would support the rapid growth of MSMEs in the country.

The Executive Director, MSMEs, Bank of Industry, Toyin Adeniji, said that the bank is partnering with the Federal government to empower small traders.

Adeniji said that the project which is wholly driven by the government is expected to give N10,000 grant each to the traders to boost their businesses.

Revenue Collection'll Be Electronical, Easy - New Agege LG Revenue Committee Chairman, Hon. Rasheed Osanyinpeju Assured

Agegepulse Magazine



Tuesday 17th, 2017 marked a new beginning in the history of Agege Local Government Area with the nomination and confirmation of former house leader Hon. Rasheed Osanyinpeju as Chairman, Revenue Committee of the council.

The confirmation of Hon. Osanyinpeju was regarded as smooth and friendly due to his personality and experience which were obvious to majority of the house members.

In a brief chat with AgegePulse, Hon. Osanyipeju revealed that his first move would be to key into the vision of the Executive Chairman of Agege Local Government, Hon. Ganiyu Kola Egunjobi to bring dividends of democracy to the people of Agege.

He stressed that his team will work round the clock to sustain the rapid growth in Agege's Internally Generated Revenue, IGR from 10% to about 80% over the years.

However, Hon. Rasheed reveal that his team will reduce the act of illegal collection of revenue, block loopholes and open Agege LG to small, medium and micro businesses in order to improve on the previous recorded achievements, adding that the committee would go on electronic payment to ease revenue collection when necessary.

He urged citizens to oblige their civic responsibility through constant payment of taxes and other levies for effective running of government.


Hon. Rasheed Osanyipeju is a politician, businessman and a farmer. He was a former Agege House leader during the Hon. Enoch Ajibosho led administration between (1999-2002)

Speaking to AgegePulse after the confirmation, Leader of the House, Hon. Kola Anigbajumo commended the Executive for the choice of Hon. Osanyipeju as Chairman of Revenue committee.

"This is a welcome development because we now have round peg in a round hole. The wealth of experience deposited in him is unrivalled when it comes to political, social and economical understanding of our local government." Anigbajumo asserted.

Moreover, Hon. Anigbajumo and other members of the house used the medium to implore the Executive on the need for quick preparation of an all-encompassing 2018 budget that would cater for all and sundry in the Local Government.