1,000 FCT women traders get RHI’s N50m recapitalisation grant

Stories By Stanley Onyekwere

No fewer than 1, 000 women involved in petty trading activities in Abuja, the Federal Capital Territory (FCT), have started receiving N50,000 each, amounting to a total of N50 million as recapitalisation grant from Renewed Hope Initiative (RHI) Economic Empowerment Programme of the First Lady, Sen. Oluremi Tinubu.
This grant sum, is part of a total of N1.85 billion being disbursed to 37,000 women petty traders across the 36 states of the federation and the FCT.
Flagging off the disbursement yesterday, in Abuja, Mrs Tinubu, who was represented at the event by Dr. Adedayo Benjamins-Laniyi, Mandate Secretary, Women Affairs Secretariat, FCT Administration, explained that the grant was to assist women petty traders in overcoming some of their business challenges, grow their businesses, create more jobs, and contribute more robustly to the nation`s economy.
She noted that economic empowerment remained the core object of the Renewed Hope Initiative and had delivered on this promise for both women and youth across the six geopolitical zones of the country.
This, according to her, is to support the economic reforms of resident Bola Tinubu.
“This is commitment towards economic growth, towards better life for families.
“We are all aware of the challenges faced by small and medium enterprises, especially our petty traders, who form the backbone of our local economy.
“These challenges, however, have not deterred the strength of our women. I salute you all and celebrate your resilience and courage that keep you going to put food on the table for your families.
“We recognise 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.”
However, Benjamins-Laniyi while speaking in her capacity as the FCT Coordinator of RHI, disclosed that the UN Women supported the initiative with N15 million to cover 300 additional women traders, thereby bringing number of beneficiaries from 1000 to 1,300 in FCT.
Earlier, the FCT Minister of State, Dr Mariya Mahmoud, described the programme as a significant stride towards empowering women entrepreneurs and enhancing their economic resilience.
Mahmoud, who represented by Hajiya Majidda Musa, FCT Coordinator, Social Investment Programme, commended the first lady for her dedication in putting smiles on faces of Nigerian women.
She said the grants would undoubtedly provide the much-needed support in helping women petty traders expand their businesses and improve their livelihoods.
She adds: “By investing in women’s growth, the government is creating opportunities for a brighter future.”
For one of the beneficiaries, Mrs Maimuna Erondi, who sells fish and groundnut cake, the first lady through the RHI Empowerment programme has provided the support, that would significantly increase her capital.
Similarly, another beneficiary, Mrs. Veronica Olajide, who trades in women shoes, described the gesture as life impacting.
She added that the N50, 000 grant would help her to her business.
Nigeria cannot stand as an island, so while we are thinking of what we need here, lets also think of how we are going to be relevant globally, and that is what I have tried to talk about in the book”, she stated.