Nigeria’s First Lady, Senator Oluremi Tinubu, on Wednesday delivered N50 million in business grants to 1,000 women small business owners in Ogun State as part of a broader economic empowerment push aimed at strengthening grassroots enterprises nationwide.
The presentation took place at the June 12 Cultural Centre, Kuto, Abeokuta, where the beneficiaries each received N50,000 under the Women Economic Empowerment Programme of the Renewed Hope Initiative (RHI). The initiative, which has technical support from the Tony Elumelu Foundation, is designed to boost the earning power of women traders and small-scale business owners who serve as key drivers of local economies.
Addressing the gathering, Mrs Tinubu, who was represented by the wife of the Ogun State Governor, Mrs Bamidele Abiodun emphasised that the funds were not loans, but outright grants intended to help recipients “recapitalise” their existing businesses.
“Let me emphasise that *this is not a loan. It is a grant and a seed of renewed hope to help you recapitalise your existing businesses,” the First Lady said. “It is my firm belief that when you empower a woman, you empower a household, a community, and indeed, a nation.”
She explained that the grant programme is part of a larger effort to support women across Nigeria, noting that the Tony Elumelu Foundation had made a ₦1 billion donation to the RHI for economic empowerment initiatives. Under that programme, 18,500 women nationwide, including 500 women in each of the 36 states and the Federal Capital Territory (FCT) are scheduled to receive ₦50,000 each to strengthen and expand their small businesses.
Mrs Tinubu expressed appreciation to the governor of Ogun State, Dapo Abiodun, for increasing the state’s allocation of beneficiaries beyond the standard 500 to 1,000 women, describing his support as a demonstration of strong commitment to women’s economic progress.
She urged the recipients to use the grants judiciously “to grow their businesses, take better care of their families and contribute to national development.”
In her remarks, the First Lady also highlighted the broader rationale for the initiative, pointing to data that underscores the vital role of women in Nigeria’s socio-economic landscape, even as many face persistent barriers to accessing formal financial resources. She said interventions like the RHI are necessary to close that gap and empower women to thrive as entrepreneurs and community leaders.
The Ogun event is part of a sustained rollout of the Renewed Hope Initiative’s Economic Empowerment Programme, which has seen similar grants disbursed to women entrepreneurs across other states in recent years. Similar efforts include the disbursement of N50 million to empower 1,000 women traders in Kaduna State under the same scheme, reinforcing the national scope of the programme.
