Sunday, January 29, 2023
No Result
View All Result
SUBSCRIBE
eNaira Online News
  • Home
  • eNaira
  • Capital Market
  • Business
  • Finance
  • Banking
  • PF
  • Companies
  • Crypto
  • Real Estates
  • Opinion
  • Home
  • eNaira
  • Capital Market
  • Business
  • Finance
  • Banking
  • PF
  • Companies
  • Crypto
  • Real Estates
  • Opinion
eNaira Online News
No Result
View All Result

Expert Questions Tradermoni, Other Schemes As Spending Hits N36.3bn

by e-Naira Online News
June 10, 2022
in Business
Reading Time: 3 mins read
A A
0
Home Business
Share on FacebookShare on Twitter


Expert Questions Tradermoni, Other Schemes As Spending Hits N36.3bn

The Chief Executive Officer (CEO) of Centre for the Promotion of Private Enterprise (CPPE), Dr. Muda Yusuf has questioned the effectiveness of Tradermoni and other social schemes introduced for the masses as the Federal Government’s spending to sustain them hits N36.3 billion.

Recent data obtained from the National Social Investment Programme (NSIP) handled by the Federal Ministry of Humanitarian Affairs, Disaster Management and Social Development, has it that no less than N36.3 billion has so far been disbursed to 2.3 million beneficiaries under Tradermoni, N-Power programme, National Home Grown School Feeding Programme and the Conditional Cash Transfer schemes.

As seen in the data, the beneficiaries all received between N50,000 and N300,000 under the government empowerment programme.

“The GEEP programme in the last four years has provided incremental loans of between N10,000 and N300,000 to about 2.3 million beneficiaries who are mainly traders, artisans, enterprising youth, agricultura] workers, and other micro-services providers.

“A total of 2,678 clusters have been engaged across the farms, trade groups and markets along with a total of 4,988,926 enumerated and verified applicants, from which the programme was able to successfully disburse funds to 2.3 million beneficiaries between 2016 and 2019.

“The beneficiaries’ cash disbursed so far sums up of N36.3 billion, with 2.3 million beneficiaries and 2.7 million candidates on the waiting list,” the data read.

Reacting to the data, Yusuf, a former Director-General of the Lagos Chamber of Commerce and Industry (LCCI), said the impact of the schemes had not been felt as expected economically, adding that hence, they should be interrogated, as he expressed doubt if the beneficiaries were paying pack the loans.

His words: “First of all, let’s interrogate the sustainability of this programme. This fund is supposed to be a loan, now how much of it has come back? What is the default rate?

“What happens with many of these things is that they go around, gather people and give them the money. This fund is supposed to be revolving and so how much of it has come back? What is the default rate? My guess is that the default rate will be extremely high. So the first thing is to tackle the issue of sustainability.

“Also, the agencies should be able to give us the metrics for measurement of impact. They gave out funds, what has been the impact? You don’t measure impact by how much you have disbursed. The CBN does a lot of that.”

Related





Source link

Tags: ExperthitsN363bnQuestionsschemesspendingTradermoni
Previous Post

African Development Bank To Launch Public Financial Management Academy To Build Capacity in African Countries

Next Post

Lagos moves to review Lekki masterplan, to address physical planning challenges

Related Posts

Business

The Importance Of Business Continuity Planning

by e-Naira Online News
January 28, 2023
Business

Debts upon debts! Supreme Court rules against Honeywell Flour, as firm struggles with N67.02bn loans

by e-Naira Online News
January 28, 2023
Business

Nigerian petroleum agency blames cross-border smugglers for scarcity

by e-Naira Online News
January 28, 2023
Business

Access Holdings, International Breweries, others lose N51.7bn to investors’ apathy

by e-Naira Online News
January 27, 2023
Business

Lagos now closer to its smart city dream with 5G technology —Sanwo-olu

by e-Naira Online News
January 27, 2023
Next Post

Lagos moves to review Lekki masterplan, to address physical planning challenges

Most of American Retailers Consider Crypto Payments In Next 2 Years

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Trending
  • Comments
  • Latest

Currency Swap Will Stabilise, Strengthen Economy—Buhari

January 28, 2023

Three die in fresh US shooting

January 28, 2023

Moody’s downgrades Nigeria’s currency and debts ratings to Caa1, cites Ways and Means

January 28, 2023

Why it’s a bad idea to bet against the Crypto market right now

January 28, 2023

The Importance Of Business Continuity Planning

January 28, 2023

Oduwacoin, Other Crypto That Cost Less Than $1

January 28, 2023

Debts upon debts! Supreme Court rules against Honeywell Flour, as firm struggles with N67.02bn loans

January 28, 2023

Sao Paolo Introduces Blockchain in Data Access Law – Regulation Bitcoin News

January 28, 2023

Get the free newsletter

eNaira Online News

Get the latest news and follow the coverage of eNaira, Business & Financial, Stock Market, Analysis, and more from the trusted sources.

CATEGORIES

  • Banking
  • Business
  • Capital Market
  • Companies
  • Crypto
  • eNaira
  • Finance
  • Opinion
  • Personal Finance
  • Real estate
  • Uncategorized
No Result
View All Result

GET THE FREE NEWSLETTER

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 e-Naira Online News.
e-Naira Online News is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • eNaira
  • Capital Market
  • Business
  • Finance
  • Banking
  • PF
  • Companies
  • Crypto
  • Real Estates
  • Opinion

Copyright © 2022 e-Naira Online News.
e-Naira Online News is not responsible for the content of external sites.