On Thursday, Senator Oluremi Tinubu, the wife of Nigeria’s President, launched a recapitalization grant aimed at empowering 37,000 women petty traders across the 36 states and the Federal Capital Territory (FCT). The initiative, part of her Renewed Hope Initiative’s Economic Empowerment Programme, was flagged off during a ceremony in Abuja.
During the event, Mrs. Tinubu, represented by Mrs. Adedayo Benjamins-Laniyi, FCT Mandate Secretary for Women Affairs, announced that 1,000 women from each state and the FCT would receive N50,000 each, amounting to a total disbursement of N1.85 billion. This grant is designed to help women petty traders cope with current economic challenges, expand their businesses, and create more jobs.
“Today, through the Renewed Hope Initiative Economic Empowerment Program, we are providing 1,000 pre-selected women petty traders per state with a grant of N50,000 each to recapitalize and contribute to the growth of the economy,” Benjamins-Laniyi stated. The grants are intended to assist these women in overcoming business challenges, thereby enhancing their capacity to contribute more robustly to the economy.
Senator Tinubu emphasized that economic empowerment for women remains a core objective of the Renewed Hope Initiative (RHI), noting that her pet project continues to support the broader reforms of President Bola Tinubu’s administration.
The FCT Minister of State, Dr. Mariya Mahmoud, also highlighted the importance of the initiative, describing it as a significant effort by the President’s wife to support women traders in expanding their businesses, thereby improving their livelihoods and overall well-being. Represented by her Special Adviser on Social Investments, Maijidda Musa, Dr. Mahmoud praised the investments made through the initiative in education, health, social investment, and agriculture, commending Senator Tinubu for her commitment to making this vision a reality.
This initiative marks a substantial step towards empowering women across Nigeria, providing them with the financial resources needed to enhance their businesses and contribute to the nation’s economic growth.
