The wife of the President, Senator Oluremi Tinubu, on Wednesday distributed N50m in grants to 1,000 women small business owners in Ogun State.
Each beneficiary received N50,000 under the Women Economic Empowerment Programme of the Renewed Hope Initiative, with support from the Tony Elumelu Foundation.
The presentation took place at the June 12 Cultural Centre, Kuto, Abeokuta.
Speaking at the event, Mrs Tinubu said the programme was designed to support the entrepreneurial drive of women traders and small-scale business owners striving daily to cater for their families and contribute to their communities.
Represented by the wife of the Ogun State Governor, Mrs Bamidele Abiodun, the First Lady stressed that the financial support was not a loan but a grant meant to strengthen existing businesses.
“Let me emphasise that this is not a loan. It is a grant and a seed of renewed hope to help you recapitalise your existing businesses.
“It is my firm belief that when you empower a woman, you empower a household, a community, and indeed, a nation.
“I thank the Tony Elumelu Foundation, which donated One Billion Naira to the Renewed Hope Initiative, to directly support 18,500 women across the Nation.
“500 women from each of the 36 states and the FCT will be receiving N50,000 each to strengthen and recapitalise their existing small businesses. I will be presenting the sum of N50,000 each to some of the preselected 500 beneficiaries at this event today,” she said.
She, however, said Ogun State benefitted beyond the initial allocation, as Governor Dapo Abiodun approved an increase in the number of beneficiaries to 1,000, praising him for what she described as his strong commitment to women empowerment.
Mrs Tinubu urged the beneficiaries to use the grants judiciously to grow their businesses, take better care of their families and contribute to national development.
She also referenced reports showing that women play key roles in Nigeria’s social and economic development but often lack access to financial resources, making interventions such as the Renewed Hope Initiative necessary to strengthen women’s economic empowerment.
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