The First Lady, Senator Oluremi Tinubu, on Thursday unveiled a recapitalisation grant for 37,000 women petty traders across the 36 states and the Federal Capital Territory.
During the flag-off ceremony in Abuja, Mrs Tinubu said 1,000 women across each state and the FCT would receive N50,000 each, totalling N1.85bn.
She said that the gesture was a part of her Renewed Hope Initiative (RHI) Economic Empowerment Programme.
The First Lady disclosed that the flag-off ceremony took place simultaneously in the 36 states of the federation and the FCT.
The First Lady who was represented by the Mandate Secretary, Women Affairs Secretariat, who is also the FCT state coordinator of the Renewed Hope Initiative, Mrs. Adedayo Benjamins-Laniyi, noted that the Renewed Hope Initiative was aware of the challenges faced by Small and Medium Enterprises (SMEs), especially the petty traders, who constitute the backbone of the local economy.
She emphasised that in spite of the challenges faced by women, they had not been deterred in business.
“Today, through the Renewed Hope Initiative Economic Empowerment Programme, we are providing 1,000 selected petty women traders per state with a grant of N50,000 each to recapitalise and grow their businesses,” she said.
“A total of one billion, eight hundred and fifty million Naira (N1,850,000,000.00) will be disbursed to 37,000 petty women traders across
the nation,” she said.
“The grants provided today is to assist our petty women traders in overcoming some of their business challenges, expand their businesses, create more jobs, and contribute more robustly to our economy.”
She stressed that economic empowerment remained a core objective of the Renewed Hope Initiative and the programme had continued to support the economic reforms of the present administration of President Bola
Ahmed Tinubu.
“We recognise that empowering women economically is not just a moral imperative but a strategic one. When women thrive, their families thrive, and by extension, our communities and the
nation prosper,” she stressed.
Earlier, the FCT Minister of State, Dr. Mariya Mahmoud, described the programme as a significant stride towards empowering women entrepreneurs and enhancing their economic resilience.
She expressed the hope that the grants would undoubtedly provide much-needed support in helping petty women traders expand their businesses and improve their livelihoods.
The minister who was represented by the FCT Coordinator of Social Investment Programme, Hajiya Maijidda Adamu Musa, stressed that investment in human capital through the Renewed Hope Initiative in the areas of Economic Empowerment, Education, Health, Social Investment and Agriculture had been invaluable.
Mahmoud added that by investing in women’s growth, the government was creating opportunities for a brighter future.
She lauded the efforts of the First Lady and her dedicated team in making the initiative a reality.
The Mandate Secretary, Women Affairs Secretariat, Mrs. Adedayo Benjamins-Laniyi, said that the RHI had become an interventionist programme that had come to stay with a view to supporting women entrepreneurs.
Represented by the Permanent Secretary, Women Affairs Secretariat, Alhaji Kolawole Adetoyi Rabiu, she noted that the secretariat was reactivating all its programmes to improve women’s economy.
The high point of the event was the presentation of cash to some selected beneficiaries.
Kindly share this story
