THIRTY thousand traders in Akwa Ibom will benefit from the Federal Government’s micro-credit scheme under the first phase of its Social Investment Programme in the state.
The State Focal Person, Social Investment Programme, Mr Ita Okon, spoke yesterday in Uyo at the training of 310 N-Power volunteers registering in the scheme.
Okon said the programme, tagged: “Market Moni”, was meant to give soft loans to petty traders and boost their trade.
He said beneficiaries would be drawn from Cooperative Societies, and will get N10,000 to N50,000 each.
Okon explained that beneficiaries would refund the loan at the end of this first phase to qualify for the second phase.
He said the second phase was pegged at N100,000 for each beneficiary.
“Akwa Ibom is fortunate to be among the first benefiting states in this pilot scheme,” Okon said.
Also speaking, Akwa Ibom Head of Civil Service Mrs Ekereobong Akpan, commended the Federal Government for initiating programmes aimed at poverty reduction.
Akpan, who was represented by the Permanent Secretary, Ministry of Commerce and Investment, Mr Oliver Udokpo, said any poverty eradication programme was dear to the state government.
“The Social Investment Programme is both a heart-and-head programme. It is a programme that would get our people out of poverty.
“Permit me to say that a country’s economic development is a function of the number of people living above poverty level.
“I, therefore, call on the people to key into this kind gesture and join hands in reducing poverty in our state,” Akpan said.
He said the government provided manpower, accommodation, vehicles and state coordination office for the programme.