Economy

Oluremi Tinubu Empowers 500 Women in Cross River State

Published

1 year ago

September 6, 2025

Oluremi Tinubu empowers 500 women in Cross River State with N50,000 each through the Renewed Hope Initiative, boosting women-led businesses nationwide

Oluremi Tinubu, Nigeria’s First Lady, has empowered 500 women in Cross River State with N50,000 grants each under the Renewed Hope Initiative’s Economic Empowerment Programme.

Also read: Oluremi Tinubu Flood Donation Brings Hope with N1.5bn Relief for Niger, Adamawa Victims

The flag-off ceremony took place on Friday in Calabar, with Mrs Tinubu represented by the Wife of the Governor, Eyoanwan Bassey Otu. She emphasized that the grants are not loans but direct financial support aimed at uplifting women-led businesses across the country.

“The initiative targets 18,500 women, 500 beneficiaries each from the 36 states and the Federal Capital Territory. When you empower a woman, you empower a household,” she said.

The programme is implemented in partnership with the Tony Elumelu Foundation, which has committed N1 billion to support the project.

The grants focus on women traders and small-scale business owners, reflecting a commitment to strengthen women’s financial independence.

Also read: Oluremi Tinubu Condemns Benue Killings, Donates ₦1bn Relief

Mrs Tinubu highlighted the transformative impact of supporting women financially, stating, “A little support in the hands of a woman becomes a seed for something greater school fees paid, families fed, homes sustained, and communities uplifted.”

Up Next

APC Hails China-Naira Deal as Economic Breakthrough

Don't Miss

Dollar to Naira Black Market Rate Falls Today Sept 6

theheute

Click to comment

Economy

NRS Assures Taxpayers VAT Remains at 7.5% Amid Tax Reform Concerns

Published

6 hours ago

October 27, 2026

Peculiar Adirika

NRS VAT rate remains 7.5%, the agency says, while addressing concerns over bank deductions, loans and the implementation of Nigeria’s tax reforms

The Nigeria Revenue Service (NRS) has assured taxpayers that Nigeria’s standard Value Added Tax (VAT) rate remains 7.5 per cent, while addressing concerns over the implementation of the country’s new tax reforms.

Also read: Wike Celebrates Fintiri at 59, Hails Him as Loyal Friend

The assurance was given by the Tax Administrator responsible for Kano, Jigawa and Katsina states, Samaila Abdullahi, during an NRS stakeholders’ engagement and tax reform sensitisation programme in Kano.

Abdullahi said concerns raised by individuals, traders, business owners and other stakeholders about the new tax laws were understandable, particularly questions relating to bank transactions, loans, family transfers, business income and the potential impact on small businesses.

He urged taxpayers to understand the reforms through the provisions of the law rather than rely on assumptions or misinformation.

According to him, the tax laws do not automatically authorise deductions from personal bank accounts.

He stressed that tax collection and recovery must follow the applicable legal provisions and procedures.

Abdullahi also clarified that money received as a loan should not automatically be classified as business income or profit, explaining that proper documentation is essential to establish the nature of a transaction.

“For instance, when a trader receives a loan of N500,000, the amount should not automatically be treated as N500,000 in sales or profit, provided the transaction is properly documented,” he said.

The NRS official’s comments were aimed at addressing public concerns about how the new tax framework would affect personal finances and business transactions.

He emphasised the importance of distinguishing between taxable business receipts and other funds, such as documented loans, when determining a taxpayer’s obligations.

The clarification comes amid heightened public interest in Nigeria’s tax reforms and questions about their implications for individuals, traders and small businesses.