A major economic empowerment initiative reached Anambra State on Wednesday as 1,000 local women received N50,000 business grants through a collaboration between First Lady Oluremi Tinubu’s Renewed Hope Initiative and the Tony Elumelu Foundation. Governor’s wife Nonye Soludo personally distributed the funds at the Light House in Awka, announcing the state government would match the initial 500 beneficiaries with an additional 500 women to double the impact.
The program provides non-refundable seed money (not loans) specifically for:
✔ Expanding small businesses
✔ Improving household food security
✔ Creating sustainable income streams
Key features of the initiative:
- National Scale: 500 women in all 36 states + FCT (N1bn total from Elumelu Foundation)
- Anambra Expansion: State government added 500 more recipients
- Usage Rules: Strict warning against spending on social events like aso ebi purchases
- Health Component: Soludo emphasized proper nutrition alongside financial empowerment
Why This Matters
• Economic Ripple Effect: N50m injection into Anambra’s grassroots economy
• Political Alignment: Shows APC-First Lady and APGA governor’s wife collaboration
• Sustainability Test: Follow-up plans crucial for long-term impact
Key Quotes
→ Soludo: “This money can turn into millions if well invested”
→ Obinabo: “Not for aso ebi – invest in your businesses”
→ Tinubu (via rep): “Unlocking women’s potential drives national development”
What Next?
→ Monitoring of fund utilization by beneficiaries
→ Potential expansion to other states with similar partnerships
→ Evaluation of business growth metrics in 6 months
