Remi Tinubu Disburses Another N50m Grant to 1,000 Women Entrepreneurs
- Senator Oluremi Tinubu distributed N50 million in grants to women entrepreneurs in a Nigerian state
- Each of the 1,000 beneficiaries received N50,000 under the Renewed Hope Initiative
- The programme is supported by the Tony Elumelu Foundation, which donated N1 billion nationwide
Oluwatobi Odeyinka is a business editor at Legit.ng, covering energy, the money market, technology and macroeconomic trends in Nigeria.
Nigeria’s First Lady, Senator Oluremi Tinubu, has disbursed N50 million in grants to 1,000 women small business owners in Ogun State as part of efforts to strengthen women’s economic participation.
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The financial support was provided under the Women Economic Empowerment Programme of the Renewed Hope Initiative, with backing from the Tony Elumelu Foundation. Each beneficiary received N50,000 to support existing small-scale businesses.
The presentation took place on Wednesday at the June 12 Cultural Centre in Kuto, Abeokuta.
Speaking at the event, Mrs Tinubu said the programme was created to support women traders and entrepreneurs who play vital roles in sustaining their families and contributing to their communities.
The First Lady, who was represented by the wife of the Ogun State Governor, Mrs Bamidele Abiodun, stressed that the funds were grants and not loans, explaining that beneficiaries were not expected to repay the money.
“Let me emphasise that this is not a loan. It is a grant and a seed of renewed hope to help you recapitalise your existing businesses," she said.
According to her, empowering women has a ripple effect on households, communities and the wider society, adding that financial inclusion remains a major challenge for many women in Nigeria.
Mrs Tinubu hails Tony Olumelu Foundation
She acknowledged the Tony Elumelu Foundation for donating N1 billion to the Renewed Hope Initiative, noting that the contribution is expected to support 18,500 women nationwide. Under the programme, 500 women from each of the 36 states and the Federal Capital Territory are to receive N50,000 each.
Mrs Tinubu disclosed that Ogun State benefited beyond the initial allocation, as Governor Dapo Abiodun approved an increase in the number of beneficiaries to 1,000. She commended the governor for his commitment to women’s empowerment in the state.
Source: Twitter
Mrs Tinubu admonishes beneficiaries to use grants responsibly
The First Lady urged the beneficiaries to use the grants responsibly to expand their businesses, improve their livelihoods and contribute meaningfully to national development.
She also cited reports indicating that while women play a crucial role in Nigeria’s social and economic growth, limited access to finance continues to hinder their progress, making initiatives such as the Renewed Hope Initiative necessary.
Five govt loans available to Nigerians
Legit.ng earlier compiled a list of loans and grants available to Nigerian citizens under the President Bola Tinubu administration.
The loans include NELFUND, which is available to undergraduate students of public tertiary institutions, Consumer Credit Scheme (CrediCorp) for salary earners, and a presidential conditional grant, among others.
The federal government said it targets 1,000,000 beneficiaries for the presidential conditional grant and claims that close to 900,000 citizens have benefited so far.
Source: Legit.ng
