The Council also congratulated prospective drivers, attendants, technicians, mechanics and other beneficiaries of the transport initiative, saying its economic significance extends beyond the provision of affordable public transportation.
In a statement issued by its Director of Media, Mr. John Mayaki, the council said the buses which was commissioned by Nigeria’s First Lady, Her Excellency, Senator Oluremi Tinubu, will benefit the entire people of Edo State.
Besides, the Council also commended the First Lady of Nigeria, saying, “When you empower 5,000 women and small-business operators, you are indirectly creating opportunities for thousands of families, businesses and communities.
“This is the significance of the ₦1 billion economic empowerment initiative launched in Edo State by Nigeria’s First Lady, Her Excellency, Senator Oluremi Tinubu.”
Continuing, Mayaki said, “The significance of this intervention goes beyond the ₦200,000 earmarked for each beneficiary. When a woman invests in her business, she creates opportunities for traders, suppliers, transporters and other participants in the local economy.
“When a small business expands, household income can improve, children can benefit and more economic activities can be generated within the community. This is what economists describe as the multiplier effect of economic empowerment.
“I therefore wish to sincerely appreciate Her Excellency, Senator Oluremi Tinubu, for extending this initiative to the people of Edo State.
“I equally commend Governor Monday Okpebholo for his administration’s collaboration with the Renewed Hope Initiative and encourage the beneficiaries to invest the support wisely in productive ventures that can generate sustainable incomes.“
Mayaki said the employment opportunities associated with the buses could provide livelihoods for workers while at the same time create additional demand for goods and services across the state’s economy.
His words, “Consider the employment dimension. If each of the 50 buses engages one driver and one attendant, that would represent 100 direct employment positions.
“This employment will take some people out of the Labour market with earnings that will contribute to household incomes, consumer spending and commercial activities within Edo State.
“But the economic significance goes beyond the salaries of drivers and attendants. It extends to the businesses and households that benefit when workers spend their earnings,” Mayaki said.
Explaining the multiplier effect, the council’s spokesman said income generated through employment could stimulate successive transactions across different sectors of the economy.
“The driver buys food from a market woman. The market woman replenishes her stock from a supplier. The supplier pays a transporter. The attendant pays school fees, and the school pays its employees.
