The Renewed Hope Initiative: Mrs Tinubu Empowers 1,000 Petty Traders in Oyo State

…As she Supports Small Businesses with #1.85 Billion Grant

In an effort to mitigate the impacts of fuel subsidy removal on small businesses, Nigeria’s First Lady, Mrs. Oluremi Tinubu, has empowered over 1,000 petty traders in Oyo State through The Renewed Hope Initiatives.

The program aims to support Small and Medium Enterprises (SMEs) across the 36 states.

In her address, Nigeria’s First Lady, Mrs Oluremi Tinubu, represented by Oyo State’s First Lady, Mrs. Tamunominini Makinde, announced that the federal government has allocated a sum of ₦1.85 billion to 30,000 women-petty traders nationwide, noting that the funding will help them overcome financial challenges, expand their businesses, create jobs, and contribute significantly to the economy.

She noted that empowering women economically is not just a moral imperative but strategic stressing that women thrive, their families, communities and nation prosper.

Mrs Tinubu urged Nigerian women to support present administration to build a nation where every woman has the opportunity to succeed and every business can grow and contribute to nation’s prosperity.

She stated that “We are all aware of the challenges faced by Small and Medium Enterprises (SMEs), especially the petty traders, who form the backbone of our local economies.

“These challenges, however, have not deterred the strength of our women.

“I salute you all and celebrate your courage and resilience that keep you going, to put food on the table for your families.

“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.

“A total of One Billion, Eight Hundred and Fifty Million Naira (N1,850,0000,000.00) will be disbursed to 37,000 women petty traders
across the nation.

“The grants provided today is to assist our women petty traders in overcoming some of their business challenges, expand their businesses,
create more jobs, and contribute more robustly to our economy.

“Economic empowerment remains a core objective of the Renewed Hope

“Initiative and we have consistently delivered on this promise for both
women and youth across the six (6) geopolitical zones to support the economic reforms of the administration of His Excellency, President Bola Ahmed Tinubu, GCFR.

“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.

“I would like to extend my heartfelt gratitude to all our RHI State Coordinators and First Ladies of States, and everyone involved in making
this programme a reality, particularly, their eff orts in identifying the traders.

“This is really commendable. To the 1000 women petty traders who are the beneficiari es of this programme, I say, “You are the heart of our local economies, the foundation of our communities, and the unsung heroes of our nation”.

“You have shown incredible resilience in overcoming countless challenges to build your businesses.

“Today, we celebrate your hard work and determination.

“Let us all continue to work together to build a Nigeria where every woman has the opportunity to succeed, where every small business can grow and contribute to our nation’s prosperity, she said.

In her remark, Oyo State’s Commissioner for Women Affairs and Social Inclusion, Mrs. Toyin Balogun, represented by Director of Women Affairs, Mr. Kunle Oke, commended the federal government for the initiative.

She urged beneficiaries to utilize the funds wisely to expand their businesses and boost the national economy.