An initiative led by the First Lady, Senator Oluremi Tinubu, was unveiled to provide recapitalization grants to 37,000 women petty traders nationwide. Each state and the Federal Capital Territory will see 1,000 women receive N50,000 as part of the Renewed Hope Initiative’s Economic Empowerment Programme, totaling N1.85 billion.
The event, which took place in Abuja, was attended by the First Lady’s representative, FCT Mandate Secretary for Women Affairs, Mrs. Adedayo Benjamins-Laniyi. Tinubu highlighted the challenges faced by Small and Medium Enterprises in the country and emphasized the importance of the grants in helping women overcome these challenges, expand their businesses, and create more job opportunities.
The grants aim to empower women economically and contribute to the nation’s economic growth. Tinubu reiterated the commitment of the Renewed Hope Initiative to supporting women’s economic empowerment and commended the administration’s efforts in this regard.
Dr. Mariya Mahmoud, the FCT Minister of State, praised the initiative for its support of women traders, which will enable them to enhance their businesses and improve their livelihoods. She acknowledged the value of investments in human capital in various sectors such as education, health, social investment, and agriculture, underscoring the First Lady’s dedication to realizing this vision.