Senator Oluremi Tinubu Supports 1,000 Lagos Petty Traders With ₦50M Grant For Business Expansion

As part of ongoing efforts to support the growth of petty businesses in Lagos State, the First Lady of Nigeria and National Chairman of the Renewed Hope Initiative (RHI), Her Excellency, Senator Oluremi Tinubu, CON, has provided financial support to 1,000 women in all the 20 Local Government areas and 37 Local Council Development Areas of Lagos State.

The beneficiaries received ₦50,000 each as part of the RHI’s Economic Empowerment Programme, aimed at driving economic growth and enhancing the livelihoods of petty traders.

Speaking at the Presentation of Recapitalization Grants for Lagos Petty Traders, held at the Banquet Hall, Lagos House, Ikeja, on Friday, the First Lady of Nigeria, represented by the First Lady of Lagos State and State Coordinator RHI, Dr. (Mrs.) Claudiana Ibijoke Sanwo-Olu, highlighted the significance of the initiative.

She noted that the programme targets 1,000 pre-selected women traders in Lagos, providing them with capital to expand and stabilise their businesses.

The First Lady acknowledged the challenges faced by Small and Medium Enterprises (SMEs), particularly petty traders, but praised their resilience in overcoming obstacles to provide for their families.

She emphasised that the grants would help these women tackle their business difficulties, expand their operations, create more jobs, and contribute significantly to the state’s economy.

“Economic empowerment remains a central focus of the Renewed Hope Initiative. Through this initiative, we have consistently delivered on our promise to uplift women and youth across the six geopolitical zones, supporting the economic reforms championed by President Bola Ahmed Tinubu, GCFR.

“We recognize that empowering women economically is not only a moral imperative but a strategic one. When women succeed, their families succeed, and ultimately, our communities and nation prosper”, she added.

Dr. Sanwo-Olu also commended the resilience of the 1,000 women beneficiaries from various Local Government Areas across the state and encouraged them to make the most of the grant to grow their businesses, urging them to work together to build a nation where women can thrive and contribute to national prosperity.

She praised Senator Oluremi Tinubu for her unwavering commitment to improving the lives of families across Nigeria through the Renewed Hope Initiative which covers key sectors including education, health, economic empowerment, social investment, and agriculture.

Earlier, the Commissioner for the Ministry of Wealth Creation and Employment, Mr. Akinyemi Ajigbotafe underscored the broader impact of the initiative, stating that it fosters a conducive environment for business growth and innovation, which will ultimately transform communities and the nation at large.

He noted the government’s continuous support for SMEs, to improve living conditions and inspire the next generation of entrepreneurs.

The presentation ceremony was attended by key dignitaries, including the Permanent Secretary, Ministry of Women Affairs and Poverty Alleviation, Mrs. Oluyemi Kalesanwo (representing the Honourable Commissioner); the Permanent Secretary, Office of the Chief of Staff, Mr. Semiu Kadiri; the Director of Women Affairs (WAPA), Mrs. Elizabeth Shyllon and selected beneficiaries from various local governments across Lagos State.