Encomiums as Tinubu disburses ₦50mn grant to 1,000 women in Edo

By Jethro Ibileke

No fewer than 1000  female petty traders in Edo State have benefitted from a N50 million grant from Nigeria’s First Lady, Mrs. Oluremi Tinubu.

Each of the beneficiaries received the sum of N50,000 lifeline, a demonstration of the federal government’s commitment to grassroots economic empowerment through her Renewed Hope Initiative (RHI).

The grant was presented to the beneficiaries at a ceremony held at the Esan Central Council Secretariat in Irrua.

Wife of the State Governor, Mrs. Betsy Obaseki, presented the cheques for the money on behalf of Mrs. Tinubu.

The Edo First Lady while reading Mrs. Tinubu’s message, noted that the initiative was part of a broader nationwide program aimed at supporting 37,000 women across all 36 states and the Federal Capital Territory (FCT).

She added that the goal was to provide financial backing to small and medium enterprises (SMEs), particularly those run by women, who are often the backbone of local economies.

Mrs. Tinubu who highlighted the crucial role women play in fostering economic growth and sustaining their communities, lauded the resilience and determination of the women traders, who have continued to support their families despite numerous challenges.

She said: “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.”

The beneficiaries who were full encomium for Mrs. Tinubu, described the grant as God’s intervention in the lives and businesses.