First lady Remi Tinubu on Thursday unveiled a recapitalisation grant of N1.85 billion for 37,000 female petty traders nationwide.
Mrs Tinubu said during the flag-off ceremony in Abuja that 1,000 women across each state and the FCT will get N50,000.
This move is part of her Renewed Hope Initiative’s economic empowerment programme.
Tinubu, who was represented by the FCT mandate secretary for women affairs, 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-scale enterprises in the country.
She added that the grants are being given to women to help overcome 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 said.
