First Lady Flags Off Recapitalization Grants For Traders In Abuja

The Renewed Hope Initiative, Economic Empowerment Programme commences the recapitalization grants for 1,000 women petty traders in Abuja.

The wife of the president, Senator Oluremi Tinubu, while flagging off the programme in Abuja revealed that a total of N1,850,0000,000.00 would be disbursed to 37,000 women petty traders across the nation.

She said that the event would take place simultaneously across the 36 States of the Federation and the Federal Capital Territory.

Represented by the Mandate Secretary Women Affairs Secretariat, also the FCT State Coordinator of the Renewed Hope Initiative (RHI), Mrs. Adedayo Benjamins-lanyi, First Lady noted that the Renewed Hope Initiative is aware of the challenges faced by Small and Medium Enterprises (SMEs), especially the petty traders, who form the backbone of the local economies.

She stressed that these challenges have not deterred the strength of the women.

She said: “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 (N1,850,0000,000.00) 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 affirmed that economic empowerment remains a core objective of the Renewed Hope Initiative and the programme has continued to support the economic reforms of the present administration of President Bola Ahmed Tinubu.

“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,” she stressed.

Earlier, the FCT Minister of State, Dr. Mariya Mahmoud, described the programme as a significant stride towards empowering women entrepreneurs and enhancing their economic resilience.

She expressed the hope that the grants would undoubtedly provide much-needed support in helping women petty traders expand their businesses and improve their livelihoods.

The minister who was represented by the FCT Coordinator of the Social Investment Programme, Hajia Maijidda Adamu Musa, stressed that investment in human capital through the Renewed Hope Initiative in the areas of Economic Empowerment, Education, Health, Social Investment, and Agriculture has been invaluable.

Mahmoud further said that by investing in women’s growth, the government is creating opportunities for a brighter future, just as she commended the efforts of the First Lady and her dedicated team in making this initiative a reality.

The Mandate Secretary of Women Affairs Secretariat, Mrs. Adedayo Benjamins-laniyi, said that the RHI has become an interventionist programme that has come to stay to support women entrepreneurs.