The federal government has announced the ‘Renewed Hope’ empowerment initiative, aimed at supporting petty traders across Nigeria’s 36 states. First Lady Oluremi Tinubu revealed the plans during a meeting with the wives of state governors held at the conference room of the Office of the First Lady on Wednesday.
Under the initiative, the government will provide N50,000 grants to 1,000 women petty traders in each state. The scheme is designed to recapitalize existing small businesses and foster their growth, with the official launch scheduled for August 22, 2024.
First Lady Tinubu emphasized the importance of states submitting their lists of beneficiaries promptly to ensure smooth implementation. “We are set to launch the Renewed Hope Initiative Women Economic Empowerment Programme for petty traders. Under this scheme, RHI will provide a N50,000 grant each to 1,000 women petty traders in the 36 states and the FCT. The program is designed to recapitalize existing small businesses and support their growth,” she stated.
“The official launch is scheduled for August 22, 2024. I urge states that are yet to submit their list of beneficiaries to do so in earnest,” Tinubu added.
