The First Lady, Sen. Oluremi Tinubu, has disbursed N65 million grant to 1,300 women petty traders in the Federal Capital Territory (FCT).

Mrs Tinubu explained during the event in Abuja on Thursday, that each of the women would receive N50,000 to grow and recapitalise their businesses.

The first Lady was represented at the event by Dr Adedayo Benjamins-Laniyi, Mandate Secretary, Women Affairs Secretariat, FCT Administration.

She said that the grant was to assist women petty traders in overcoming some of their business challenges, expand their businesses, create more jobs, and contribute more robustly to the nation`s economy.

She explained that the recapitalisation grant was under her Renewed Hope Initiative (RHI) Economic Empowerment Programme.

‘This is commitment towards economic growth, towards better life for families.

‘We are all aware of the challenges faced by small and medium enterprises, especially our petty traders, who form the backbone of our local economy

‘These challenges, however, have no
t deterred the strength of our women. I salute you all and celebrate your resilience and courage that keep you going to put food on the table for your families,’ she said.

She explained that a total of N1.85 billion was being disbursed to 37,000 women petty traders across the 36 states of the federation and the FCT.

She said that economic empowerment remained the core object of the Renewed Hope Initiative and had delivered on this promise for both women and youth across the six geopolitical zones of the country.

This, according to her, was to support the economic reforms of resident Bola Tinubu.

‘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.’

Speaking in her capacity as the Mandate Secretary, Women Affairs Secretariat and FCT Coordinator of RHI, Benjamins-laniyi assured FCT women entrepreneurs of initiative’s continued support.

The mandate secretary disc
losed that the UN Women supported the initiative with N15 million to cover 300 additional women.

This increased the amount from N50 million to N65 million and number of beneficiaries from 1000 to 1,300.

Earlier, the FCT Minister of State, Dr Mariya Mahmoud, described the programme as a significant stride towards empowering women entrepreneurs and enhancing their economic resilience.

Represented by Hajiya Majidda Musa, FCT Coordinator, Social Investment Programme, the minister commended the first lady for her dedication in putting smiles on faces of Nigerian women.

She expressed hope that the grants would undoubtedly provide the much-needed support in helping women petty traders expand their businesses and improve their livelihoods.

‘By investing in women’s growth, the government is creating opportunities for a brighter future,’ she said.

One of the beneficiaries Mrs Maimuna Erondi, who sells fish and groundnut cake, thanked the first lady for the support, adding that it would significantly increase her
capital.

Another beneficiary, Mrs Veronica Olajide, who sells women shoes, described the gesture as life impacting, stressing that the N50, 000 grant would enable her to expand her business.

Source: News Agency of Nigeria