First Lady Empowers 500 Women Entrepreneurs with 25m grants in Oyo

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The First Lady, Mrs. Oluremi Tinubu, has boosted the capital base of 500 small-scale women business owners in Oyo State with grants of ₦50,000 each under the Women Economic Empowerment Programme of her Renewed Hope Initiative (RHI).

The beneficiaries received the financial support on Monday at an event held in Ibadan, the Oyo State capital.

Speaking through the wife of the Oyo State Governor, Mrs. Tamunominini Makinde, the First Lady said the initiative was designed to support hardworking women who continue to sustain their families and contribute to community development. “The money is not a loan, but a grant and a seed of renewed hope, meant to assist small-scale women business owners to recapitalise their existing businesses,” she explained

Mrs. Tinubu stressed the wider impact of the initiative, saying, “It is my firm belief that when you empower a woman, you empower a household, a community, and indeed, a nation.”

She also acknowledged the role of the Tony Elumelu Foundation in making the programme possible. “I thank the Tony Elumelu Foundation, who donated one billion naira to the Renewed Hope Initiative, to directly support 18,500 women across the nation. Five hundred women from each of the 36 states and the FCT will be receiving ₦50,000 each to strengthen and recapitalise their existing small businesses. I thank the Tony Elumelu Foundation once again for this support. May this act of generosity inspire many more across our nation,” the First Lady added.

In her goodwill message, the Commissioner for Women Affairs and Social Inclusion, Mrs. Toyin Balogun, praised the Renewed Hope Initiative for the empowerment drive. She urged the beneficiaries to make prudent use of the funds. “Do not see the money as just a token for your financial turnaround, but as capital to be used judiciously,” Balogun advised.

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