…To empower 37,000 women with N1.85b
First Lady, Oluremi Tinubu, on Thursday, flagged off the distribution of N50,000 to 1000 Medium and Small Scale Enterprises MSMEs, under the Renewed Hope Initiative Economic Empowerment Programme for women petty traders.
Tinubu who is the Chairman of the Renewed Hope Initiative RHI, while performing the flag-off in Asaba, Delta State, said the Economic Empowerment for 1000 Women Petty Traders per state was expected to be held simultaneously nationwide, with each beneficiary receiving N50,000.00 each as business recapitalization grant from the Renewed Hope Initiative, RHI.
She disclosed that the project was one of the several interventions under the economic empowerment program of RHI, adding that the grant, is targeted at helping petty traders overcome some of their business challenges, create more jobs and expand the contributions of the informal sector to the national economy.
“As we are all aware of the challenges faced by Small and Medium Enterprises (SMEs), especially the petty traders, who form the backbone of our local economies, these challenges, however, have not deterred the strength of our women.
The First Lady commended the recipients for their courage and resilience that has kept many families going, to put food on the table.
“Today, through the Renewed Hope Initiative Economic Empowerment Programme, we are providing 1,000 pre-selected women petty traders per state with a grant of N50,000 each to recapitalize and grow their businesses.
She announced that a total of N1.850b would be disbursed to 37,000 women petty traders across the nation.
The First Lady identified economic empowerment as a core objective that the Renewed Hope Initiative have consistently delivered on for both women and youth across the six (6) geopolitical zones of Nigeria to support the economic reforms of the administration of President Bola Ahmed Tinubu.
She noted that empowering women economically is not just a moral imperative but a strategic one.
“We recognize 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 nation prosper. We recognize 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 nation prosper”.
“To the 1000 women petty traders who are the beneficiaries of this programme, I say, “You are the heart of our local economies, the foundation of our communities, and the unsung heroes of our nation”. You have shown incredible resilience in overcoming countless challenges to build your businesses. Today, we celebrate your hard work and determination”.
Applauding the intervention of the First Lady and for choosing the state for the flag off of the grant, Delta State Governor, Sherriff Oborevwori, represented by his wife, Tobore Oborevwori announced the donation of an additional N50,000.00 grant by his administration to further empower the beneficiaries.
He noted that the Oluremi Tinubu has demonstrated true motherhood by the various contributions of her Initiative, RHI especially in the areas of Agriculture, Education, Economic Empowerment and Social Investment.
He also advised recipients to make profitable use of the resources to strengthen their businesses
