Nigeria’s First Lady, Senator Oluremi Tinubu, has disbursed N50 million in grants to 1,000 women entrepreneurs in Ogun State, deepening efforts to improve access to capital for small businesses run by women across the country.
The grants, issued under the women’s economic empowerment programme of the Renewed Hope Initiative, saw each beneficiary receive N50,000 to support and strengthen existing businesses. The programme is being implemented with support from the Tony Elumelu Foundation and is targeted at women traders and small-scale entrepreneurs who play critical roles in household income generation and community development.
The presentation ceremony took place at the June 12 Cultural Centre in Kuto, Abeokuta, bringing together beneficiaries, government officials and programme partners. Speaking through the wife of the Ogun State governor, Bamidele Abiodun, the First Lady said the intervention was designed to support women who are actively engaged in business and striving daily to provide for their families.
She stressed that the financial support was not a loan and would not require repayment, describing it as a grant meant to help beneficiaries recapitalise and stabilise their businesses. According to her, empowering women economically has a multiplier effect that extends beyond individual businesses to households, communities and the wider economy.
She acknowledged the role of the Tony Elumelu Foundation, which committed N1 billion to the Renewed Hope Initiative to support 18,500 women entrepreneurs nationwide. Under the programme’s framework, 500 women from each of the 36 states and the Federal Capital Territory are expected to receive grants to strengthen their small businesses and improve sustainability.
Ogun State, however, benefited beyond the initial allocation, with the number of beneficiaries increased to 1,000 following approval by Governor Dapo Abiodun. The First Lady praised the governor’s decision, describing it as a clear demonstration of commitment to women’s empowerment and inclusive economic growth at the state level.
She urged beneficiaries to apply the funds carefully and strategically to expand their businesses, improve household welfare and contribute to national development. She also referenced reports highlighting the significant role women play in Nigeria’s social and economic development, while noting that limited access to finance remains a major barrier for many women-owned micro and small enterprises.
For women-led MSMEs, access to small but timely capital often determines survival, especially in a challenging economic environment marked by rising costs and limited credit. Interventions such as the Renewed Hope Initiative are increasingly seen as critical in bridging financing gaps, supporting grassroots entrepreneurship and strengthening local economies through women-owned businesses.
