Nigeria’s First Lady, Senator Oluremi Tinubu, has empowered 1,000 petty traders in Lagos State with grants of N50,000 each to bolster their businesses as part of her Renewed Hope Initiative (RHI).
The initiative, totalling N50 million in Lagos alone, aims to uplift women-led small and medium enterprises (SMEs) across the country.
The grants were presented on Friday at the State House, Ikeja, by Lagos First Lady, Dr. Ibijoke Sanwo-Olu, who represented Senator Tinubu at the event. The RHI programme is focused on providing financial support to petty traders, who play a crucial role in sustaining local economies.
In her message to the women, Senator Tinubu acknowledged the challenges SMEs face, particularly women in petty trading. She praised their resilience and determination in overcoming economic difficulties.
“You are the heart of our local economies, the foundation of our communities, and the unsung heroes of our nation,” Tinubu said, saluting the traders for their commitment to supporting their families despite various hardships.
The N50,000 grants are part of a broader initiative aimed at helping women recapitalize, expand their businesses, create jobs, and contribute more robustly to the Nigerian economy. Nationwide, the programme will disburse N1.85 billion to 37,000 women petty traders across all 36 states and the Federal Capital Territory (FCT).
Senator Tinubu underscored that economic empowerment remains a core objective of the Renewed Hope Initiative, aligning with President Bola Ahmed Tinubu’s ongoing economic reforms.
She stressed that empowering women is not just a moral obligation but a strategic necessity for national prosperity.
“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,” the First Lady emphasized.
She expressed gratitude to the RHI State Coordinators, First Ladies across Nigeria, and others who played pivotal roles in identifying and supporting the traders. Tinubu encouraged the women to use the grants to further grow their businesses and contribute to national development.
This empowerment programme underscores Senator Tinubu’s dedication to improving the economic prospects of women and youth, as she continues her mission to support grassroots businesses across the country.
