The First Lady, Senator Oluremi Tinubu, on Thursday, unveiled a recapitalisation grant for 37,000 women petty traders across the 36 states and the Federal Capital Territory.

During the flag-off ceremony in Abuja, the First Lady said 1,000 women across each state and the FCT will get N50,000, totaling N1.85 billion as part of her Renewed Hope Initiative’s Economic Empowerment Programme.

The first lady, who was represented by the FCT Mandate Secretary for Women Affairs, Mrs Adedayo Benjamins-Laniyi, said the event was held simultaneously across the 36 states, adding that the government was aware of challenges faced by Small and Medium Enterprises in the country.

She added that the grants were given to the women to help overcome the challenges, while also creating jobs and growing their businesses.

“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 contribute to the growth of the economy.

“A total of N1.85bn will be disbursed to 37,000 women petty traders across the nation.

“The grants provided today are to assist our women and petty traders in overcoming some of their business challenges, expanding their businesses, and creating more jobs, and contributing more robustly to our economy.”

She stressed that economic empowerment for women remained a core objective of the RHI, noting that her pet project has continued to support the reforms under the President Bola Ahmed Tinubu administration.

Speaking earlier, the FCT Minister of State, Dr. Mariya Mahmoud, in her goodwill message, described the initiative as a significant effort by the First Lady, which would provide support for women traders to expand their businesses and improve their livelihoods and wellbeing.

Represented by her Special Adviser on Social Investments, Maijidda Musa, the Minister said investments in human capital through the Initiative in areas such as , Education, Health, Social Investment, and Agriculture has been invaluable, while commending the First Lady for making the vision a reality.

PUNCH