Senator Oluremi Tinubu, the President’s wife, is set to re-capitalize the Renewed Hope Initiative, which would assist 37,000 women across the country.
Tinubu made the statement on Thursday during a symbolic food distribution to internally displaced persons living with disabilities and vulnerable individuals in Benue State.
Mrs Nana Shettima, the Vice President’s wife, represented the president’s wife in announcing that 1000 women from each state and the Federal Capital Territory will receive a N50,000 recapitalisation grant from the RHI economic empowerment project.
She stated, “I am pleased to inform you that the governing council of the Renewed Hope Initiative has graciously approved a business re-capitalization grant of N50,000 for 1000 women petty traders in each state and the FCT to support their businesses as part of our renewed hope initiative for women’s economic programme.
“This program will launch simultaneously across the nation on August 22nd.”
She stated that the plan was created to assist the impoverished in accordance with President Tinubu’s determination to leave no one behind in securing food security and sufficiency for the country.
While encouraging the recipients to use the supplies, Senator Tinubu stated that the program involves donating a truckload of different food items for distribution to the state’s targeted groups.
Earlier in his speech, the state governor, Rev Fr Hyacinth Alia, thanked the president’s wife for her support of Benue women, particularly those living with disabilities and vulnerable persons.
The governor, who was represented by his deputy, Sam Ode, promised that his government will support the president’s wife’s efforts by increasing the distribution of the commodities to the state’s most vulnerable residents.
Alia, who regarded the President as a father and friend of the state, also praised Vice President Kashim Shettima for his ongoing support of the state and stated that the state had benefited much from the Renewed Hope Initiative.
Bottom Line
Beyond the disbursement of funds, there needs to be a robust system in place to monitor how the grants are utilized. Providing financial education or business management training alongside the grants could help ensure that the funds are used effectively to grow the beneficiaries’ businesses.
While N50,000 per person can provide a short-term boost, the initiative should ideally be part of a broader, long-term strategy for women’s economic empowerment. This could include access to further capital, mentorship programs, and market access initiatives that can sustain and grow the businesses over time.
