First Lady Oluremi Tinubu has extended financial assistance to 1,000 women petty traders across Rivers State’s 23 local government areas.
Tinubu is the National Chairman of the Renewed Hope Initiative, under which the funds were coordinated.
Lady Valerie Siminalayi Fubara, wife of Rivers State Governor and coordinator of the Renewed Hope Initiative, presented checks worth ₦50,000 apiece to 1,000 recipients at the Banquet Hall of the Government House in Port Harcourt on Friday.
The initiative, named RHI’s Economic Empowerment Programme Recapitalisation Grants for 1,000 Women Petty Traders in Rivers State, aims to drive economic growth and improve the livelihoods of petty traders in the state.
Delivering the message of the Mrs. Tinubu at the event, Mrs. Fubara said the grants should assist women petty traders in overcoming some of their business challenges, expand their businesses, create more jobs, and contribute more robustly to the economy of the state.
She said, “This event is taking place across the 36 states of the Federation and the Federal Capital Territory. We are all aware of the challenges faced by small and medium enterprises, 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 in each state with a grant of N50,000 each to recapitalise and grow their businesses.
“A total of N1.850 billion will be disbursed to 37,000 women petty traders across the nation,” she said, adding that economic empowerment remains a core objective of the Renewed Hope Initiative.”
She emphasised the commitment of RHI to consistently deliver on the promise of empowerment to women and youth across the six geopolitical zones of the country as support for the economic reforms initiated by the administration of President Bola Tinubu.
Mrs Tinubu added, “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 1,000 women petty traders who are the beneficiaries of this program, 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.”
She emphasised RHI’s commitment to constantly delivering on the promise of empowerment to women and youth across the country’s six geopolitical zones in support of President Bola Tinubu’s economic reforms.
Fubara’s wife stated that these efforts are part of a long-term goal to promote local economies and improve families’ ability to cope with their issues, since the various phases of the RHI initiatives have deliberately disseminated support to as many households as possible.
She said, “In Rivers State, care has been taken to ensure that beneficiaries are drawn from the rural areas and that they are the people who are really in need.
“Our officials have been directed to monitor the process and to ensure that the process is not hijacked by the privileged ones.
“It is believed that as you receive these supports, they will be ploughed into your already existing petty businesses. The Women Petty Traders Empowerment Scheme is, therefore, designed to assist those whose business capitals have been greatly depleted by inflation and are seeking grants to jerk them back to life.”
The governor’s wife presented an additional 10,000 exercise books to the State Commissioner for Education, Dr. Ovy Chukwuma, to be distributed to public primary and junior secondary schools in the state’s 23 local government areas.
