Nigeria’s First Lady, Oluremi Tinubu, has launched an empowerment initiative aimed at supporting 1000 women petty traders in Delta State.
The Renewed Hope Initiative, unveiled in Asaba, Delta State, is part of the current administration’s efforts to drive economic growth and improve the lives of Nigerian families.
Addressing the beneficiaries, Oluremi Tinubu acknowledged the challenges faced by Small and Medium Enterprises, particularly petty traders, who are the backbone of local economies. She commended the women for their strength and resilience in the face of these challenges.
Through the Renewed Hope Initiative Economic Empowerment Programme, the administration will provide 1,000 pre-selected women petty traders per state with a grant of N50,000 each to recapitalize and grow their businesses.
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According to her, a total of N1,850 billion will be disbursed to 37,000 women petty traders across the nation.
The First Lady explained that economic empowerment is a core objective of the Renewed Hope Initiative, which has consistently delivered on this promise for both women and youth across the six geopolitical zones.
She added that the grants are intended to assist women and petty traders in overcoming business challenges, expanding their businesses, creating jobs, and contributing more robustly to the economy.
In her welcome address, the wife of the governor, Tobore Oborevwori, commended the First Lady for choosing Delta as the flagged-off state.
Tobore Oborevwori announced that Governor Sheriff Oborevwori has donated N50 million to support the First Lady’s RHI economic Empowerment Programme, increasing the grant to N100,000 for each beneficiary.
Beneficiaries of the initiative praised and appealed to President Bola Tinubu to reduce the price of fuel, goods, and other items in the market, stressing the impact of inflation on their businesses.
They urged the government to consider their plea to make the grant more meaningful in the face of economic challenges.
