Remi Tinubu Flags Off Renewed Hope Economic Initiative in Abuja, Delta

*Grants N1.8bn to 37,000 Nigerian women traders; recapitalizes 1,000 each in Abuja, Delta

Deji Elumoye, Olawale Ajimotokan in Abuja and Omon-Julius Onabu in Asaba

The First Lady, Senator Remi Tinubu, Thursday, through her foundation, the Renewed Hope Initiative (RHI) Economic Empowerment Programme, flagged-off the recapitalisation grants for 1,000 women petty traders in Abuja and Delta State, respectively.
She said that N1,850,000,000 would be disbursed to 37,000 women petty traders across the country. Each beneficiary will receive N50,000 each to recapitalise and grow their businesses.

The First Lady, represented by the Mandate Secretary Women Affairs Secretariat and the FCT State Coordinator of the RHI, Mrs. Adedayo Benjamins-Laniyi, added that the event would take place simultaneously across the 36 states of the federation including the FCT.
She said the RHI recognised the challenges faced by Small and Medium Enterprises (SMEs), especially the petty traders, who form the backbone of the local economies.

Also, in Asaba, the capital of Delta State, Mrs. Tinubu flagged-off the RHI Economic Empowerment Programme noting that empowerment was at the core of the goal of the Tinubu administration’s initiative.
The programme included commencement of recapitalisation grants for 1,000 women petty traders in Delta State.
She said that the RHI has so far delivered on this promise for both women and youths across the six geo-political zones of the country, to support the economic reforms of the federal government.

Mrs. Tinubu said: “I am honoured to be here today at the empowerment programme of one thousand women petty traders across the nation as part of our continued commitment to drive economic growth towards a better life for families.
“This event is taking place simultaneously across the 36 states of the federation and the Federal Capital Territory. I appreciate our host, the governor of Delta State, Rt. Hon. Sheriff Oborevwori, and his amiable wife for the warm reception and hospitality accorded us.

“You are all aware of the challenges faced by small and medium enterprises, especially the petty traders who form the backbone of our local economies.
Meanwhile, according to the Mandate Secretary Women Affairs Secretariat and the FCT State Coordinator of the RHI, Mrs. Adedayo Benjamins-Laniyi: “The grants provided today is 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 stressed that economic empowerment constituted the core objective of the RHI, which recognised has continued to support the economic reforms of the present administration of President Bola Tinubu.
“We recognise 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,” Mrs. Tinubu said.

In her remarks, 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 the 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 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 have been invaluable.
The Mandate Secretary Women Affairs Secretariat, Mrs. Adedayo Benjamins-laniyi, said that the RHI, has become an interventionist programme that has come to stay with a view to supporting women entrepreneurs.

In Asaba, Mrs. Tinubu stated: “These challenges, however, have not deterred the strength of our women. 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 one thousand pre-selected women petty traders per state with the grant of N50,000 each to recapitalise and grow their businesses.
“A total of N1.850 billion will be disbursed to 37,000 women petty traders across the nation. And the good news for Delta as mentioned by Her Excellency, Deaconess Tobore Oborevwori, the governor has decided to support our N50 million grant with another sum of N50 million. So, instead of the women receiving N50,000, they will be receiving N100,000 each.

“The grant that you are receiving today is to assist the women petty traders to overcome their challenges, expand their businesses, create more jobs and contribute 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 youths across the six geo-political zones to support the economic reforms of this administration.

“We recognise 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.

“To the beneficiaries of this programme, I say and I quote ‘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 challenges to build your businesses.