Tinubu’s Wife Disburses ₦1.85bn to 37,000 Women Petty Traders Nationwide

Tinubu’s Wife Disburses ₦1.85bn to 37,000 Women Petty Traders Nationwide

In a major push to bolster small businesses across Nigeria, Senator Oluremi Tinubu, wife of President Bola Ahmed Tinubu, has extended financial support to 37,000 women petty traders through her Renewed Hope Initiative (RHI).

This economic empowerment program, spanning all 36 states and the Federal Capital Territory (FCT), aims to uplift local economies and support women in expanding their small businesses.

As part of the initiative, ₦50 million was distributed to 1,000 women petty traders from Rivers State, each receiving ₦50,000 to recapitalize their businesses.

The disbursement event took place at the Banquet Hall of the Government House in Port Harcourt, coordinated by Lady Valerie Fubara, wife of the Rivers State Governor and state coordinator for the RHI.

The program, tagged RHI’s Economic Empowerment Programme Recapitalization Grants, is designed to drive economic growth by helping petty traders address business challenges, expand their ventures, create jobs, and contribute to the state’s economy.

Delivering Mrs. Tinubu’s message at the event, Lady Fubara commended the resilience and strength of women in overcoming numerous challenges to keep their businesses afloat.

Mrs. Tinubu highlighted the significance of empowering women, noting that when women thrive, families and communities benefit, ultimately contributing to national prosperity.

“This event is taking place across the 36 states of the Federation and the Federal Capital Territory.

Today, through the Renewed Hope Initiative Economic Empowerment Programme, we are providing 1,000 pre-selected women petty traders in each state with a grant of N50,000 each to recapitalize and grow their businesses,” Mrs. Tinubu said.

A total of ₦1.85 billion is earmarked for this national initiative.

She emphasized the core objective of RHI, which is to consistently deliver economic empowerment to women and youth across Nigeria, in line with the economic reforms introduced by President Tinubu’s administration.

Lady Fubara added that the initiative had been careful to ensure beneficiaries were selected from rural areas, focusing on those most in need.

Measures were in place to monitor the process and prevent privileged individuals from taking advantage of the scheme.

The program targets those whose business capital has been severely impacted by inflation, providing a much-needed boost to restore their livelihoods.

This empowerment program is part of broader efforts by the Renewed Hope Initiative to support vulnerable groups, including the elderly, women in agriculture, and school children, through various interventions such as scholarships and educational materials distribution.