FG to give interest-free loans to 98,000 Nigerians

Sadiya Farouq

Federal Government says it has concluded plans to give interest-free loan to 98 thousand beneficiaries of its Government Enterprise and Empowerment Programme nationwide.

The Minister of Humanitarian Affairs, Disaster Management and Social Development, Sadiya Umar-Farouq, disclosed this in a statement by her Special Assistant on Media, Nneka Anibeze, today in Abuja.

Sadiya Umar-Farouq said that this decision was reached following the final verification of Phase 1 applicants, who qualified and were selected to benefit from small loans ranging from 50 thousand naira to 300 thousand naira.

She further said that all the beneficiaries of the program would receive congratulatory and sensitization text messages in the coming days informing them of their qualification.

According to Sadiya Umar-Farouq, the money given to the beneficiaries of the empowerment programme is a loan and not a grant and must be repaid within nine months.