First Lady Oluremi Tinubu Launches RHI Business Recapitalization Grant for Petty Traders Nationwide
First Lady Oluremi Tinubu Launches RHI Business Recapitalization Grant for Petty Traders Nationwide
Governor of Delta State Rt Hon Sherriff Oborevwori, First Lady of Nigeria Senator Oluremi Tinubu and the wife of the Governor Mrs Tobore Oborevwori at the Government House Asaba when the First Lady was in the state for the RHI Economic Empowerment Programme for 1000 women petty traders on Thursday 22nd August 2024
Nigeria’s First Lady, Senator Oluremi Tinubu, has officially launched the Renewed Hope Initiative (RHI) Economic Empowerment Programme, providing vital financial support to petty traders across the nation. As part of this initiative, 37,000 women traders will each receive a N50,000 business recapitalization grant aimed at boosting their businesses and fostering economic growth in their communities.
The program was inaugurated in Asaba, Delta State, where 1,000 pre-selected petty traders benefitted from the scheme. Speaking at the event, Senator Tinubu, who also serves as the Chairman of RHI, highlighted the significance of the grant in alleviating the challenges faced by Small and Medium Enterprises (SMEs), particularly those run by women.
“Small and Medium Enterprises, especially petty traders, are the backbone of our local economies. Despite facing numerous challenges, these women have shown remarkable resilience. 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,” said the First Lady.
The total disbursement of N1.85 billion will empower 37,000 women traders across Nigeria, contributing to the economic reforms spearheaded by President Bola Ahmed Tinubu’s administration. Senator Tinubu emphasized that economic empowerment for women is not just a moral obligation but a strategic necessity that benefits the entire nation.
“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 added.
Delta State Governor, Sheriff Oborevwori, represented by his wife, Tobore Oborevwori, praised the First Lady’s initiative and announced an additional N50,000 grant from the state government for the beneficiaries. The governor commended Senator Tinubu’s contributions through RHI, particularly in the fields of agriculture, education, economic empowerment, and social investment.
The RHI Economic Empowerment Programme for 1,000 women petty traders was held simultaneously across all 36 states and the Federal Capital Territory (FCT), with each beneficiary receiving a N50,000 grant to recapitalize their businesses.
Signed:
Busola Kukoyi
Senior Special Assistant, Media
Office of the First Lady, Federal Republic of Nigeria
22nd August 2024
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