First Lady, Senator Oluremi Tinubu, has empowered 500 women in Cross River State with a grant of N50,000 each under the Renewed Hope Initiative’s Economic Empowerment Programme.
The flag-off ceremony was held on Friday in Calabar, the state capital, where Mrs Tinubu was represented by the Wife of the Governor of Cross River State, Eyoanwan Bassey Otu. She explained that the grant is not a loan but direct financial support designed to uplift women-led businesses across the country.
“The initiative targets 18,500 women, 500 beneficiaries each from the 36 states and the Federal Capital Territory,” she said.
According to her, “This initiative is geared towards the empowerment of women with N50,000 each as a grant. It is not a loan but a seed from the Renewed Hope Initiative. When you empower a woman, you empower a household. This initiative will have a positive impact on families and communities.”
The programme is being implemented in partnership with the Tony Elumelu Foundation, which has committed N1 billion to support the project. The foundation’s involvement is expected to boost the capacity of women traders and small-scale business owners across Nigeria.
Mrs Tinubu praised the Tony Elumelu Foundation for what she described as a strong commitment to the success of the Renewed Hope Initiative. She said the empowerment scheme is a bold move to improve women’s financial independence through direct business recapitalisation support.
“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,” she added.