Politics

37,000 Women to Receive N50,000 Trade Grant from the President’s Wife

Published by admin on August 23rd, 2024.

37,000 Women to Receive N50,000 Trade Grant from the President’s Wife

On Thursday, Senator Oluremi Tinubu, the wife of the President, launched a recapitalization grant program aimed at supporting 37,000 female petty traders across Nigeria’s 36 states and the Federal Capital Territory (FCT).

During the inauguration in Abuja, Mrs. Tinubu announced that each state and the FCT would benefit from 1,000 grants of N50,000 each, totaling N1.85 billion as part of her Renewed Hope Initiative’s Economic Empowerment Programme. The ceremony took place simultaneously in all 36 states, highlighting the government’s recognition of the difficulties faced by small and medium-sized enterprises.

Mrs. Tinubu, represented by Mrs. Adedayo Benjamins-Laniyi, the FCT Mandate Secretary for Women Affairs, explained that the grants were intended to help women navigate current economic challenges, expand their businesses, and generate employment opportunities.

“Through the Renewed Hope Initiative Economic Empowerment Programme, we are offering N50,000 grants to 1,000 pre-selected women traders in each state to bolster their business operations and contribute to economic growth,” Benjamins-Laniyi said.

The total grant disbursement amounts to N1,850,000,000, aimed at helping women overcome business obstacles, expand their enterprises, and strengthen the economy.

Benjamins-Laniyi emphasized that supporting women’s economic empowerment is a key goal of the Renewed Hope Initiative, which aligns with the broader reforms of President Bola Tinubu’s administration.

Dr. Mariya Mahmoud, the FCT Minister of State, praised the initiative as a significant contribution by the President’s wife to aid women traders in growing their businesses and enhancing their livelihoods. Represented by her Special Adviser on Social Investments, Maijidda Musa, Dr. Mahmoud lauded the initiative for its investment in human capital and various sectors such as education, health, and agriculture, commending Senator Tinubu for realizing this vision.