Nigeria’s First Lady and chair of the Renewed Hope Initiative (RHI), Oluremi Tinubu, has kicked off the Renewed Hope Initiative Economic Empowerment Programme for women petty traders across the country.

She disbursed N50,000 business recapitalisation grant to 37,000 beneficiaries.

According to the First Lady, she is helping petty traders overcome some of their business challenges, creating more jobs and expanding the contributions of the informal sector to the national economy.

She said: “As 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 (N1,850,000,000.00) will be disbursed to 37,000 women petty traders across the nation.

“We recognise 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.

"We recognise 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.

“To the 1000 women petty traders who are the beneficiaries 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.”