Nigeria’s First Lady, Mrs. Oluremi Tinubu, has flagged off the Renewed Hope Initiative (RHI) Economic Empowerment Programme for women petty traders nationwide.
The scheme was launched on Thursday with a 50,000 Naira business recapitalization grant disbursement to 37,000 beneficiaries nationwide.
The First Lady flagged off the disbursement of the grant in Asaba, Delta State capital, where 1000 petty traders benefited from the scheme.
As one of the interventions under the economic empowerment program of RHI, the grant, she says, is targeted at helping petty traders overcome some of their business challenges, create more jobs, and expand the contributions of the informal sector 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 N50,000 each to recapitalize and grow their businesses.
“A total of One Billion, Eight Hundred and Fifty Million Naira (N1,850,000,000.00) will be disbursed to 37,000 women petty traders across the nation,” the First Lady disclosed.
Core Objective
While identifying economic empowerment as a core objective that the Renewed Hope Initiative has consistently delivered on for both women and youth across the six geopolitical zones of Nigeria to support the economic reforms of the administration of President Bola Tinubu, the First Lady noted 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 1000 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,” she said.
Applauding the intervention of the First Lady and for choosing the state for the flag off of the grant, Delta State Governor, Sherriff Oborevwori, represented by his wife, Tobore Oborevwori announced the donation of an additional N50,000.00 grant by his administration to further empower the beneficiaries.
He noted that Mrs. Tinubu has demonstrated true motherhood through the various contributions of her Initiative, RHI, especially in the areas of Agriculture, Education, Economic Empowerment, and Social Investment.
The RHI Economic Empowerment for 1000 Women Petty Traders per State is held simultaneously nationwide. Each beneficiary received N50,000.00 as a business recapitalization grant from the Renewed Hope Initiative, a pet project of the First Lady.
