Nigeria’s First Lady Inaugurates N1.85bn Empowerment For Traders Nationwide

Posted by Niyi Adeyi Featured, Latest Headlines, News Across Nigeria Friday, August 23rd, 2024

(AFRICAN EXAMINER) – The First Lady, Sen. Oluremi Tinubu on Thursday inaugurated the disbursement of N1.85bn capitalisation empowerment support for 37,000 women petty traders across Nigeria.

Speaking at the event in Asaba, Delta, Mrs Tinubu said the empowerment is an initiative of her pet project, the Renewed Hope Initiative (RHI) Programme

She said 1,000 pre-selected women petty traders in each of the 36 states and the Federal Capital Territory (FCT) would be given a grant of N50,000 each, to recapitalise and grow their businesses.

She disclosed that the disbursement of the grant was taking place simultaneously across the 36 states of the FCT.

The First Lady commended Gov. Sheriff Oborevwori of Delta for adding N50 million to the RHI grant of #50 million to beneficiaries in the state.

According to her, with the N50 million support from the governor, each of the 1000 beneficiaries in Delta would receive a sum of N100,000

Mrs Tinubu acknowledged the challenges faced by Small and Medium Enterprises (SMEs), especially the women petty traders.

According to her, petty traders formed the backbone of the local economies, and the women had remained resilient in spite of the challenges that confronted them.

“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 RHI economic empowerment programme, a total of N1.850 billion will be disbursed to 37,000 women petty traders across the nation.

“The grants provided today are to assist our women, petty traders in overcoming some of their business challenges, expand their businesses, create more jobs, and contribute more robustly to our economy,” she said.

The first lady noted that economic empowerment remains a core objective of her pet project, in line with President Bola Tinubu’s Renewed Hope Agenda.

“We have consistently delivered on this promise to both women and youths across the six geopolitical zones to support the economic reforms of the administration of President Tinubu.

“We recognise 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,” she said.

The first lady commended the beneficiaries and charged them to put the grants into good use to boost their businesses and support their families.

“To the beneficiaries, 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.

“Let us all continue to work together to build a Nigeria where every woman has the opportunity to succeed, where every small business can grow and contribute to our nation’s prosperity,” she said

Mrs Tinubu also thanked the state governor, his wife, Mrs Tobore, and the people of Delta for their support, warm reception and the hospitality accorded to her team.

Earlier, Mrs Oborevwori in a welcome remarks, thanked Mrs Tinubu for choosing the state to launch the empowerment programme .

”Your commitment to the well-being of Nigerians through the RHI in agriculture, education, economic empowerment, social investment and health care is commendable.

”As a state, we have benefitted from these initiatives, including the distribution of notebooks and scholarship schemes for students, grants for the elderly and farmers and distribution of bags of rice to indigent women

”As you always say to us, no family should suffer in this administration. This gesture is a clear testimony that Nigerians will be catered for,” she said

The governor’s wife and founder “You Matter Charity Foundation’, said that her foundation had also empowered and supported rural market women among others.

She congratulated the beneficiaries and urged them to make judicious use of the grant to grow their businesses as well as contribute to the well-being of their families.(NAN)