FIRST LADY OLUREMI TINUBU FLAGS OFF RHI BUSINESS RECAPITALIZATION GRANT FOR PETTY TRADERS NATIONWIDE
Nigeria’s First Lady and Chairman of the Renewed Hope Initiative (RHI), Senator Oluremi Tinubu, CON, has officially launched the Renewed Hope Initiative Economic Empowerment Programme for women petty traders across the nation. The program includes the disbursement of a ₦50,000 business recapitalization grant to 37,000 traders.
The First Lady flagged off the disbursement of the grant in Asaba, the capital of Delta State, where 1,000 petty traders benefited from the scheme.
As part of the economic empowerment program under RHI, the grant is designed to help petty traders overcome business challenges, create more jobs, and expand the informal sector’s contributions 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. I salute you all and celebrate your courage and resilience that keep you going, to put food on the table for your families. 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 ₦50,000 each to recapitalize and grow their businesses. A total of ₦1,850,000,000 will be disbursed to 37,000 women petty traders across the nation,” she stated.
Identifying economic empowerment as a core objective of the Renewed Hope Initiative, which has consistently supported both women and youth across Nigeria’s six geopolitical zones to align with President Bola Ahmed Tinubu’s economic reforms, the First Lady emphasized 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.”
“To the 1,000 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 First Lady’s intervention and the decision to flag off the grant in Delta State, Governor Sheriff Oborevwori, represented by his wife, Tobore Oborevwori, announced an additional ₦50,000 grant from his administration to further empower the beneficiaries.
He noted that Senator Oluremi Tinubu has demonstrated true motherhood through the various contributions of her initiative, RHI, particularly in Agriculture, Education, Economic Empowerment, and Social Investment.
The RHI Economic Empowerment for 1,000 Women Petty Traders per state was held simultaneously nationwide, with each beneficiary receiving ₦50,000 as a business recapitalization grant from the Renewed Hope Initiative.
