RHI, foundation unveil N25m recapitalization grant for 500 women in FCT

The Renewed Hope Initiative (RHI) of First Lady Oluremi Tinubu, with support from the Tony Elumelu Foundation has unveiled a N25 million Recapitalisation Grant for 500 women in the Federal Capital Territory (FCT).

The RHI Coordinator in FCT, Dr Adedayo Benjamins-Laniyi, said at the event in Abuja on Monday, that the grant would be disbursed under the RHI/Tony Elumelu Foundation Women Economic Empowerment Programme.

Benjamins-Laniyi, who is also the pioneer Mandate Secretary, FCT Women Affairs Secretariat, said that 500 women would benefit from the grant in the FCT.

She commended Tony Elumelu Foundation for generously donating  one billion Naira to the initiative.

According to her, this significant contribution will benefit 18,500 women across the country, 500 women each from the 36 states and the FCT.

She said that each of the 18,500 women would receive N50,000 each to strengthen and recapitalise their businesses.

“Today, I have the privilege of presenting N50,000 each to some of the preselected 500 beneficiaries here in the FCT, amounting to N25 million.

“This support is a testament to the power of collaboration and generosity, and I hope it inspires others across our nation to join in uplifting women entrepreneurs.

“As we launch the Renewed Hope Initiative/Tony Elumelu Foundation Women Economic Empowerment Programme in the FCT, let us remember that together, we are planting seeds of prosperity for our communities and our nation,” she said.

The coordinator said that the programme aims to uplift women traders and small-scale business owners in the FCT and the country.

“Those who rise each day with determination to provide for their families, educate their children, and strengthen our communities. Today, we are taking concrete steps to support and expand their efforts.

“It is important to clarify that what we are offering is not a loan, but a grant seed of renewed hope designed to help you recapitalise and expand your existing businesses.

“We firmly believe that empowering women means empowering households, communities, and indeed, our entire nation,” she said.

Benjamins-Laniyi reiterated the commitment of the FCT Administration, led by FCT Minister Nyesom Wike and Minister of State, Dr Mariya Mahmoud to the success of the RHI programmes in the FCT.

Also speaking, Hajia Salamatu Jubril, FCT Women Leader of the All Progressives Congress (APC), lauded the First Lady and Benjamins-Laniyi for their dedication to women’s economic empowerment.

Similarly, Hajia Hadiza Umar, Leader of the National Council for Women’s Societies FCT Chapter, commended the bold step of Benjamins-Laniyi to reach-out to widows, youths, and the less-privileged across the six area councils of the FCT.

One of the beneficiaries, Ms Angela Elube, expressed profound gratitude for the support, noting that the grant would significantly boost their small businesses.