Nigeria’s First Lady, Senator Oluremi Tinubu, has “empowered” 1,000 women in Ogun State with a N50 million grant. The event, which was more of a photo-op than a policy shift, saw each woman walk away with N50,000,an amount that’s being touted as a game-changer for small businesses.

The First Lady, who didn’t even attend in person, sent Mrs. Bamidele Abiodun, wife of the Ogun State Governor, to hand out the cheques. The crowd of dignitaries and stakeholders applauded as the grants were distributed, but questions remain about the real impact of such handouts.

Mrs. Tinubu, in her address read by proxy, declared, “This is not a loan. It is a grant and a seed of renewed hope.” She repeated the well-worn phrase, “When you empower a woman, you empower a nation,” but offered little detail on how N50,000 per person will actually transform businesses or communities.

The initiative, a collaboration between the Renewed Hope Initiative and the Tony Elumelu Foundation, is being hyped as a nationwide effort. The Foundation reportedly donated a whopping One Billion Naira, with plans to reach 18,500 women across Nigeria. Ogun State, thanks to Governor Dapo Abiodun’s “special consideration,” got double the usual allocation,1,000 beneficiaries instead of 500. The First Lady praised the governor for his “commitment” to women’s empowerment, though critics might call it political grandstanding.

Recipients were urged to “use the grants wisely,” with Mrs. Tinubu referencing studies about women’s challenges in accessing finance. Yet, the event glossed over the deeper structural issues facing women entrepreneurs, focusing instead on the feel-good narrative of instant empowerment.

Beneficiaries, mostly from trading, agriculture, and small-scale manufacturing, dutifully expressed gratitude and shared optimistic plans for the money. The media-friendly testimonials painted a rosy picture, but there was little discussion about how far N50,000 can really go in today’s economy.

Stakeholders at the event heaped praise on the initiative, calling it a “timely intervention” and aligning it with global gender equality goals. The programme is being sold as a catalyst for economic development, but critics argue it’s more about optics than outcomes.

The Renewed Hope Initiative, led by Senator Tinubu, continues to push grants over loans, claiming this removes the “burden” of repayment. The partnership with the Tony Elumelu Foundation is being used to highlight public-private collaboration, but the real test will be whether these grants lead to any measurable change.

As the beneficiaries head home with their cheques, the media narrative is clear: the First Lady is delivering hope. But beneath the surface, many are left wondering if this is just another round of political theatre, or if real, lasting empowerment is actually on the agenda.