Nigeria’s informal economy is set for a major boost following the official launch of the Renewed Hope Government Enterprise and Empowerment Programme (RHGEEP 3.0) by the Federal Government, with a bold target of empowering five million citizens by the year 2027.
The programme was unveiled in Abuja during a national stakeholders’ roundtable organised by the National Social Investment Programme Agency (NSIPA), where its National Coordinator and Chief Executive Officer, Badamasi Lawal, described the initiative as a deliberate recalibration of previous empowerment schemes to strengthen transparency, improve repayment culture, and expand financial access for vulnerable groups.
According to Lawal, “RHGEEP 3.0 represents a conscious shift in how we approach microcredit. It is built on trust, consistency, and accountability, with the overarching goal of reaching five million beneficiaries and fostering a culture of repayment.”
The Government Enterprise and Empowerment Programme (GEEP), introduced under the broader National Social Investment Programmes (NSIP), was originally created to provide interest-free microloans to individuals and groups excluded from traditional banking systems. Its flagship schemes include:
TraderMoni – designed to provide small loans to petty traders such as market women and kiosk operators.
MarketMoni – targeting cooperative societies, artisans, and other small-scale entrepreneurs.
FarmerMoni – supporting smallholder farmers to improve agricultural productivity.
While earlier phases of GEEP provided financial lifelines to thousands across the country, Lawal stressed that RHGEEP 3.0 has been redesigned to go beyond loan distribution by embedding digital financial tools, leveraging fintech partnerships, and ensuring stricter repayment mechanisms.
He explained that the guiding pillars of the new programme are:
Trust: rebuilding confidence with beneficiaries and stakeholders through transparent processes.
Consistency: ensuring fair and equitable access to funds without political or social bias.
Accountability: strengthening monitoring systems to ensure beneficiaries repay and recycle funds for others.
The scheme specifically targets women, youths, artisans, petty traders, and smallholder farmers who represent the backbone of Nigeria’s informal economy—an economic sector that contributes significantly to the country’s GDP but often remains underserved by formal banking institutions.
Lawal noted that President Bola Ahmed Tinubu’s Renewed Hope Agenda underpins the programme, reflecting the administration’s vision to transform social investment initiatives into sustainable, impactful, and transparent interventions.
He added that the success of RHGEEP 3.0 will depend heavily on effective partnerships with financial institutions, civil society groups, state governments, and local government councils to ensure inclusivity and wider reach.
The NSIPA boss also commended the National Programme Manager of GEEP and its technical partners, including System Strategy and Policy Lab and Sydani Group, for their role in designing the framework and strategy for the new phase.
“This administration recognises both the urgency and the opportunity to transform GEEP into a more accountable and impactful intervention for millions of Nigerians. If implemented faithfully, RHGEEP 3.0 will not only empower households but also help to build a stronger repayment culture that will sustain the programme for years to come,” Lawal concluded.