FG to launch N50,000 ‘Renewed Hope’ initiative for 1,000 petty traders nationwide

By Kunle Sanni

The federal government has announced the upcoming launch of the ‘Renewed Hope’ empowerment initiative, aimed at supporting petty traders across Nigeria’s 36 states.

First Lady Oluremi Tinubu revealed this during a meeting with the wives of state governors on Wednesday. The event, held at the conference room of the Office of the First Lady, outlined the scheme’s plan to provide N50,000 to 1,000 women petty traders in each state.

The initiative aims to recapitalize existing small businesses and foster their growth. The official launch is scheduled for August 22, 2024.

First Lady Tinubu urged states that have not yet submitted their list of beneficiaries to do so promptly. She stated, “Additionally, we are set to launch the Renewed Hope Initiative Women Economic Empowerment Programme for petty traders. Under this scheme, RHI will provide a N50,000 grant each to 1,000 women petty traders in the 36 states and the FCT. The program is designed to recapitalize existing small businesses and support their growth.”

“The official launch is scheduled for August 22, 2024. I urge states that are yet to submit their list of beneficiaries to do so in earnest.”