Abuja – Senator Oluremi Tinubu, the First Lady of Nigeria, on Thursday launched a recapitalization grant program for 37,000 female petty traders across the country.
The initiative, part of her Renewed Hope Initiative’s Economic Empowerment Programme, aims to provide financial support to women entrepreneurs and boost economic growth.
The grant, totaling N1.85 billion, will see 1,000 women in each state and the Federal Capital Territory receive N50,000 each. The flag-off ceremony, held simultaneously across all 36 states, was attended by the FCT Mandate Secretary for Women Affairs, Mrs. Adedayo Benjamins-Laniyi, who represented the First Lady.
“This initiative recognizes the challenges faced by Small and Medium Enterprises (SMEs) in the country, particularly women-owned businesses,” Mrs. Benjamins-Laniyi stated. “The grants are designed to help these women overcome these challenges, expand their businesses, create jobs, and contribute more significantly to our economy.”
Senator Tinubu, through her representative, emphasized that economic empowerment for women is a core objective of the Renewed Hope Initiative (RHI), aligning with the reforms being implemented by President Bola Ahmed Tinubu’s administration.
The FCT Minister of State, Dr. Mariya Mahmoud, also lauded the initiative, describing it as a significant step towards supporting women traders and improving their livelihoods. She highlighted the importance of human capital investments through the RHI in areas such as education, health, social investment, and agriculture.
The grant program is expected to have a positive impact on the lives of thousands of women across Nigeria, empowering them to contribute to the country’s economic growth and development.
