ASSESSMENT OF THE EFFECTS OF FEDERAL GOVERNMENT OF NIGERIA'S TRADERMONI SCHEME ON PETTY TRADERS IN OYO STATE

Abstract

The study investigated the effects of Federal Government of Nigeria's Tradermoni scheme on petty traders in Oyo State. Descriptive survey research design was adopted for the study. Respondents were 300 beneficiaries of the scheme across the 33 local government areas of Oyo State selected via snowball sampling method. Tradermoni Structure Interview Questionnaire designed and validated by experts was used for data collection. Data collected were analyzed using frequency count, percentage, mean and standard deviation. Result shows that the amount of money given to beneficiaries varies as some did not even get up to N10,000 (x=1.86; SD =1.288). It also shows that the scheme did not meet the need of the beneficiaries (x=1.94; SD =0.703) and that the amount of money given to beneficiaries of the scheme should be reviewed upwards (x= 3.94; SD =0.271). Based on the findings, the need for adequate screening of participants to ensure that people outside the target of the scheme do not hijack it, upward review of the amount of money given to beneficiaries to at least N50,000 and the need to spend the money due to beneficiaries on assisting them to procure items/goods related to their businesses were recommended.