Determined to consolidate ongoing efforts at supporting the growth of small businesses in Rivers State, Nigeria’s First Lady, Senator Oluremi Tinubu, has provided financial support to 1,000 women petty traders in the 23 Local Government Areas of the State.
Senator Tinubu is the National Chairman of the Renewed Hope Initiative (RHI) under whose auspices the grants were coordinated.
Wife of the Rivers State Governor, Lady Valerie Siminalayi Fubara, who is also the coordinator of the Renewed Hope Initiative (RHI) in the State, presented the cheques to the 1,000 beneficiaries who received ₦50,000 each at the Banquet Hall of Government House in Port Harcourt on Friday.
Christened, RHI’s Economic Empowerment Programme Recapitalization Grants for 1,000 Women Petty Traders in Rivers State, the gesture gears towards driving economic growth and enhancing the livelihoods of petty traders in the State.
Delivering the message of Senator Tinubu at the event, Lady 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.
Senator Tinubu 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 (SMEs), 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 recapitalize and grow their businesses.
“A total of N1.850billion 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 reiterated the commitment of RHI to consistently deliver on the promise of empowerment to women and youth across the six (6) geopolitical zones of the country as support to the economic reforms initiated by the administration of President Bola Ahmed Tinubu.
She said, “We recognize 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 programme, 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.”
Speaking as the State Coordinator of RHI, Lady Valerie Siminalayi Fubara, recalled that in the last couple of months, Senator Tinubu has, through the Renewed Hope Initiative, supported the elderly, provided 50,000 exercise books for school children, supported Women in Agriculture and offered several categories of scholarships to students in Rivers State.
Lady Fubara said these efforts are part of the long-term plan to boost the local economies and enhance the capacities of families to cope with their challenges because the different phases of the Renewed Hope Initiative programmes have deliberately spread support to as many families as possible.
She stated: “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 for grants to jerk them back to life.” Lady Fubara stated that as they continue to make concerted efforts to reach out to the vulnerable in the society, the Rivers State Office of the Renewed Hope Initiative is truly grateful to Governor Fubara for his support in promoting the RHI ideals in the State.
