2 Million Nigerian Traders To Get Loans
Nigeria is interesting. You recover stolen money; you share the money among the poorest citizens in the nation. Supporting the poor is noble if we have the right data.
Who is poor in Nigeria? In my works I have seen men with hundreds of acres of land, collecting lease fees annually and yet called poor because their assets are wholly informal. Why should a man who controls 10 cattle be classified as being poor?
If you share few thousands of naira to thousands of families, have you really advanced Nigeria? Maybe we just share our national budget per family and everyone goes home and deals with his challenges individually. Nigeria does not have the statistics to technically help the poor citizens because government does not know them. This money will end up being given to village leaders who are not necessarily poor. A good thing would have been to expand school access and provide deeper supports to healthcare centers. Those ones will deliver All Winners because not just the lucky "poor" people will win.
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But the big one is coming: government will give collateral-free loans to 2 million traders.
He said the two million mark was expected to be attained on or before the end of the year, with petty traders in Lagos, Kano and Abia states set to be the first round of beneficiaries to draw the collateral-free loans
Why not? We are all traders. But this is handout to 2 million lucky people as no one will ever recover such loans.