Nigerian Women Get N50,000 From Oluremi Tinubu, Elumelu
- Senator Oluremi Tinubu, in collaboration with the Tony Elumelu Foundation (TEF), is set to provide grants worth N50 million to women across the country
- The funds are part of the Renewed Hope Initiative’s Women Economic Empowerment Programme
- Already, 500 women each in Nasarawa and Cross River states have benefitted, with more beneficiaries planned nationwide.
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About 1,000 women entrepreneurs in Nasarawa and Cross River states have received business grants under the Renewed Hope Initiative’s Women Economic Empowerment Programme.
The programme, spearheaded by Nigeria’s First Lady, Senator Oluremi Tinubu, is in partnership with the Tony Elumelu Foundation (TEF).
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Punch reports that the initiative provides N50,000 each to 18,500 women nationwide and 500 from each of the 36 states and the Federal Capital Territory.
The funding was drawn from a N1 billion donation by TEF.
The grants target traders and small-scale entrepreneurs, particularly women striving to support their families and communities.
Women are already benefiting
Two empowerment events were held recently, one in Lafia, Nasarawa State and another in Cross River.
In Nassarawa, Tinubu, represented by Hajia Silifat Abdullahi-Sule, wife of the state governor, said the support is designed to strengthen women-led businesses and boost grassroots economic growth.
Her words:
"This is not a loan. It is a grant from the N1 billion donated to our foundation by the Tony Elumelu Foundation and is a seed of renewed hope to help you recapitalise your existing businesses."
Nasarawa State Commissioner for Women Affairs, Hawa Samuel-Jugbo, said the beneficiaries were carefully selected from all 13 local government areas, including women with disabilities to ensure inclusivity.
One recipient, Jemima Abari, promised that the funds would be used to expand businesses and improve family livelihoods.
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While in Calabar, another 500 women received N50,000 each under the same programme.
Tinubu, represented by Cross River’s First Lady, Eyoanwan Bassey Otu, stressed that the grant is direct financial support, not a loan, aimed at uplifting women entrepreneurs across the country.
She said:
“This initiative is geared towards the empowerment of women with N50,000 each as a grant. When you empower a woman, you empower a household. This initiative will have a positive impact on families and communities."
She commended the Tony Elumelu Foundation for its N1 billion support, adding that the empowerment programme reflects a bold move to strengthen women’s financial independence through direct business recapitalisation.
She added.
“We have seen how a little support in the hands of a woman becomes a seed for something greater school fees paid, families fed, homes sustained, and communities uplifted."
How to apply for Access Bank’s $100 million loan
In a related development, Legit.ng reported that Access Bank, has secured a $100 million senior facility from a global consortium, Development Finance Institutions (DFIs) led by DEG of Germany to disburse to women-led businesses in Nigeria.
The group also includes FinDev Canada, ILX Netherlands, and DFI OeEB in Austria, indicating a strategic boost for Nigeria's MSME industry and women-led businesses.
Source: Legit.ng
