First Lady Oluremi Tinubu, in collaboration with the Tony Elumelu Foundation, has empowered 500 small-scale businesswomen in Katsina State with N50,000 recapitalization grants to boost their enterprises and foster economic growth at the grassroots level.
The disbursement ceremony, held on Monday in Katsina, was spearheaded by Zulaihat Radda, wife of the Katsina State Governor, as part of the Renewed Hope Initiative (RHI), a flagship program of the First Lady aimed at uplifting women nationwide.
Speaking at the event, Mrs. Radda emphasized the transformative potential of the grants, stating, “This programme has been rolled out across states of the federation to ensure that hardworking women and families are given the support they need to build a better tomorrow.”
She highlighted the critical role of small businesses in sustaining households, educating children, and creating jobs, noting that women-owned enterprises often face significant challenges in accessing capital to grow or withstand economic shocks.
“Small businesses are the backbone of our economy… Yet, too often, they struggle. Enterprises owned by women are the most affected,” she said.
The RHI, launched to address these disparities, has provided mentorship, training, and resources to help women transition from roadside trading to sustainable businesses.
“Today, with this recapitalization grant, we’re building on that progress by giving many more women the opportunity to strengthen their enterprises and expand their dreams,” Mrs. Radda added.
She expressed confidence that the beneficiaries’ success would inspire others, proving that empowerment initiatives can yield tangible results.
The grants, totaling N25 million for the 500 beneficiaries, are designed to help women scale their businesses, improve competitiveness, and build resilience against economic challenges.
Amina Abbas, a beneficiary from Batsari Local Government Area, expressed gratitude to Mrs. Tinubu and Mrs. Radda, describing the grant as a lifeline for her small trading business.
“This money will help me buy more goods and grow my shop. I am so thankful for this opportunity,” she said.
The partnership with the Tony Elumelu Foundation, known for its entrepreneurship programs across Africa, underscores the commitment to fostering economic inclusion.
The initiative aligns with national efforts to bolster micro, small, and medium enterprises (MSMEs), which account for nearly 50% of Nigeria’s GDP and employ millions, particularly women.
The event drew commendations from community leaders and beneficiaries, who hailed the First Lady’s focus on grassroots development.
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