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Nigeria’s First Lady, Mrs. Oluremi Tinubu, has launched the Renewed Hope Initiative (RHI) Economic Empowerment program, aimed at supporting 1,000 women petty traders in Kogi State.
This initiative is part of Mrs. Tinubu’s ongoing commitment to promoting economic growth and improving the lives of families, especially women, throughout Nigeria.
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During the launch event in Lokoja on Thursday, the First Lady announced that a total of N1.85 billion would be distributed to the selected 1,000 women in Kogi State and 36,000 other female petty traders across other states and the Federal Capital Territory, Abuja.
Represented by Hajiya Fatima Tajudeen Abbas, the wife of the Speaker of the House of Representatives, Mrs. Tinubu emphasized that RHI understands the challenges faced by Small and Medium Enterprises (SMEs), particularly petty traders, who are crucial to local economies.
She noted that the N50,000 business recapitalization grant provided through this program would significantly help the beneficiaries enhance their businesses and increase their profits.
Mrs. Tinubu also highlighted that, despite the challenges, these women remain resilient in their dedication to contributing to the grassroots economy.
She stated, “Through the Renewed Hope Initiative Economic Empowerment Program, we are giving 1,000 pre-selected women petty traders per state a grant of N50,000 each to grow and sustain their businesses.”
These grants, she added, are intended to help women petty traders overcome business obstacles, expand their enterprises, create jobs, and contribute more significantly to the economy.
The First Lady reaffirmed that economic empowerment is a key focus of the Renewed Hope Initiative, which continues to align with the economic reforms of President Bola Tinubu’s administration.
In his remarks, the Governor of Kogi State, Alhaji Ahmed Usman Ododo, described the Renewed Hope Initiative as a visionary plan that is built on a solid administrative and economic foundation, ensuring its sustainability even after eight years.
He praised the First Lady for her ability to turn words into action by creating a platform that addresses poverty among women.
Governor Ododo also emphasized that the event was significant, as it demonstrated the benefits reaped by rural women who placed their trust in President Bola Ahmed Tinubu during the 2023 general election.
He expressed his appreciation to the President for fulfilling his promise to petty traders and for establishing a strong microeconomic foundation to address the needs of the less fortunate in society.
The Governor further pledged his administration’s full support for the Renewed Hope Initiative Economic Empowerment Program and assured continued collaboration with the First Lady of Nigeria through the First Lady of Kogi State.
Governor Ododo highlighted his administration’s commitment to empowering women and promoting their inclusion, noting that several women hold key positions in his government, including the Secretary to the State Government, Commissioners, and special advisers.
He also pointed out that his administration had taken unprecedented steps in Nigeria’s political history by encouraging female participation at the grassroots level, resulting in significant representation of women in leadership roles.
In her welcome address, the First Lady of Kogi State, Hajiya Sefinat Usman Ododo, described the program as an important step towards empowering women entrepreneurs and strengthening their economic resilience.
She expressed confidence that the grants would provide much-needed support to help women petty traders expand their businesses and improve their livelihoods.
Mrs. Ododo also commended the First Lady of Nigeria and her team for their efforts in making this initiative a reality.
After receiving their grants, the beneficiaries in Kogi State expressed their gratitude to the First Lady of Nigeria and the Tinubu Administration for the financial support.
