Wife of the President and Nigeria’s First Lady, Senator Oluremi Tinubu, has empowered 1,000 petty traders in Lagos State with a grant of N50,000 each to boost their businesses.
The initiative, which amounts to a total of N50 million, is part of her Renewed Hope Initiative (RHI) aimed at empowering women across the nation.
The grants were presented to the women on Friday at the State House, Ikeja, by Dr. Ibijoke Sanwo-Olu, First Lady of Lagos State, who represented Tinubu at the event.
The initiative is designed to provide financial support for small and medium enterprises (SMEs), with a particular focus on petty traders who form the backbone of local economies.
In her message, Tinubu acknowledged the challenges faced by SMEs, particularly women in petty trading, and commended their resilience in overcoming economic difficulties.
“You are the heart of our local economies, the foundation of our communities, and the unsung heroes of our nation,” she said, saluting the women for their determination to support their families despite the hurdles.
The N50,000 grants, part of a nationwide initiative, aim to help the women recapitalise their businesses, expand their operations, create jobs, and contribute more effectively to the Nigerian economy.
The First Lady revealed that the initiative would disburse a total of N1.85 billion to 37,000 women petty traders across the 36 states and the Federal Capital Territory (FCT).
Tinubu stressed the importance of economic empowerment as a core goal of the Renewed Hope Initiative, stating that it aligned with President Bola Ahmed Tinubu’s economic reforms.
“Empowering women is not just a moral obligation but a strategic one. When women thrive, their families thrive, and by extension, our communities and nation prosper,” she emphasised.
She also expressed gratitude to RHI State Coordinators, First Ladies across the states, and all those who contributed to making the programme a success, particularly their efforts in identifying deserving traders.
The First Lady called on the women to use the funds to further grow their businesses and urged everyone to work together towards building a Nigeria where every woman has the opportunity to succeed.
This empowerment programme represents a significant effort to support grassroots businesses, as Senator Tinubu continues her mission to improve the economic prospects of women and youth across the country.
