No fewer than one thousand petty traders across Oyo State on Friday 23rd August, 2024 benefited from the wife of Nigeria President, Sen. Oluremi Tinubu’s Renewed Hope Initiatives Economic Empowerment Programme Recapitalization Grants.
The grant, according to Mrs. Tinubu, was part of her husband’s continued commitment to drive the economic growth of the nation towards a better life for families.
Speaking with beneficiaries of the grant in Ibadan, Mrs. Tinubu, who was represented by the wife of the Oyo State governor, Mrs. Tamunominini Makinde stated that the event was taking place simultaneously across the 36 States of the federation and the Federal Capital Territory.
According to her, the government is aware of challenges faced by Small and Medium Enterprises (SMEs), especially petty traders who form the backbone of local economies, adding that these challenges have not deterred the strength of women.
She said: “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 (N1,850,0000,000.00) 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 contributing more robustly to our economy.
“Economic empowerment remains a core objective of the Renewed Hope Initiative and we have consistently delivered on this promise for both women and youth across the six (6) geopolitical zones to support the economic reforms of the administration of His Excellency, 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.
“I would like to extend my heartfelt gratitude to all our RHI State Coordinators and First Ladies of States, and everyone involved in making this programme a reality, particularly, their efforts in identifying the traders. This is really commendable.
“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. You have shown incredible resilience in overcoming countless challenges to build your businesses. Today, we celebrate your hard work and determination.”
She, however, urged women to continue to work together to build a Nigeria where every woman has the opportunity to succeed, and every small business can grow and contribute to the nation’s prosperity.
