FG Invites Nigerians To Apply For N100k Interest-Free Loans. No Collateral Needed . Details Emerge

The Federal Government has announced the rollout of interest-free loans of up to ₦100,000 for smallholder farmers, petty traders, and micro-business owners across Nigeria.

The initiative, under the Government Enterprise and Empowerment Programme (GEEP), will begin disbursements before the end of 2025, according to officials.

The disbursement will commence before the end of 2025, government officials explained in a recent statement

Speaking in Kaduna during an engagement with traders’ associations and stakeholders, programme managers said the intervention is part of ongoing efforts to reduce poverty and support informal businesses that drive much of Nigeria’s economy.

Under the scheme, small-scale farmers engaged in poultry, aquaculture, crop production, and livestock rearing will benefit from FarmerMoni.

Loans will allow them to purchase essential inputs such as fertilisers, veterinary drugs, and farm tools.

Petty traders and youth entrepreneurs will access funds under TraderMoni, while women in small-scale commerce will be supported through MarketMoni.

All loans will be disbursed without collateral or interest, making them accessible to Nigerians often excluded from conventional banking systems.

Officials confirmed that loan amounts will range from as little as ₦5,000 to as high as ₦100,000, depending on the scheme.

Beneficiaries will also enjoy a six-month grace period before repayments commence, giving them time to reinvest the funds into their businesses.

“These are not grants but repayable loans designed to help Nigerians grow their businesses, join the formal financial system, and create jobs,” the programme manager explained.

He added that robust monitoring and evaluation frameworks would be put in place to ensure accountability and sustainability.

To avoid abuse, the government is working with cooperatives and traders’ associations across Nigeria’s 774 local government areas.

MSME Africa reported that the GEEP desk officers and field enumerators will oversee selection to ensure that only deserving beneficiaries are enrolled.

The scheme, first launched in 2016, has been restructured to address past challenges with delivery and accountability.

Officials said the 2025 pilot rollout would pave the way for broader nationwide implementation in 2026.