A total of 1,000 women and petty traders in Anambra State have each received a recapitalization grant of N50,000 from the Renewed Hope Initiative (RHI) as part of its Economic Empowerment Programme.
The initiative, led by the First Lady, Senator Oluremi Tinubu, is focused on uplifting the living standards of vulnerable Nigerians, particularly women, including those with disabilities.
During the distribution ceremony held at the State Governor’s Lodge in Amawbia on Thursday, Mrs. Tinubu emphasized that the RHI is committed to making every Nigerian woman self-reliant by providing the necessary tools and supportive environment for them to become economically productive and even employers of labor.
“This empowerment program, benefiting 1,000 women petty traders in each of the 36 states and the Federal Capital Territory, is part of our ongoing commitment to driving economic growth for a better life for Nigerian families,” she stated.
Mrs. Tinubu acknowledged the significant challenges faced by Small and Medium Enterprises (SMEs), particularly petty traders who are the backbone of local economies. However, she commended the resilience of Nigerian women who continue to strive to provide for their families despite these difficulties.
“Through the Renewed Hope Initiative Economic Empowerment Programme, we are distributing N50,000 grants to 1,000 pre-selected women petty traders in each state to help them recapitalize and expand their businesses,” she added.
In total, N1.85 billion will be disbursed to 37,000 women across the nation. The grants are intended to help these women overcome business challenges, grow their enterprises, create jobs, and contribute more robustly to the economy.
“Economic empowerment is a core objective of the Renewed Hope Initiative, and we have consistently delivered on this promise for both women and youth across the six geopolitical zones to support the economic reforms of President Bola Ahmed Tinubu’s administration,” she concluded.
The event was marked by a ceremony led by the Anambra Governor’s wife, Mrs. Nonye Soludo, who represented Mrs. Tinubu. Beneficiaries expressed their gratitude and pledged continued support for efforts to improve Nigeria.
The event also featured a cooking and dancing competition organized by PZ Wilmar, makers of Mamador Oil, led by Esther Bankole, Area Sales Manager, Onitsha, Anambra.
