Governor Seyi Makinde has approved the release of N1.5 billion to support 1,000 young agripreneurs under the Youth Entrepreneurship in Agribusiness Project (YEAP), a key component of the Sustainable Actions for Economic Recovery (SAfER) programme in Oyo State.
Under the initiative, each beneficiary received N1.5 million, aimed at strengthening agribusiness ventures and expanding opportunities for youth participation in the agricultural value chain.
The recipients, who underwent intensive training in 2021 at CSS Global Integrated Farms, accessed the funding through a collaborative arrangement involving the Oyo State Agribusiness Development Agency, First City Monument Bank, and the Mastercard Foundation.
At the disbursement ceremony held at the Fasola Agribusiness Industrial Hub, Governor Makinde emphasised that the intervention is part of a broader framework designed to promote long-term economic stability rather than short-term relief.
He explained that the programme is structured to move participants from capacity-building to full-scale enterprise by combining technical training with access to finance. According to him, the administration’s focus remains on education, entrepreneurship, and productivity as drivers of sustainable growth.
Makinde further noted that the initiative aligns with the state’s transition from its 2019–2023 development agenda to the 2023–2027 roadmap, which prioritises sustainability and value creation.
He urged beneficiaries to manage the funds prudently, stressing that the financial support is an interest-free, collateral-free loan that requires accountability and measurable impact.
In a related development, the governor announced a N10,000 monthly transport allowance for state and local government workers, beginning in April and expected to run for three months, as part of efforts to ease the burden of rising fuel prices.
Earlier, the Director-General of OYSADA, Debo Akande, described the initiative as a comprehensive model that integrates training, financing, and enterprise development.
He disclosed that the programme has trained over 50,000 youths so far, with more than 1,000 agribusinesses already established across the state. He added that high-performing beneficiaries would be eligible for additional financing—ranging from N3 million to N5 million, and up to N50 million—through the Bank of Industry, based on business performance.
Akande also revealed plans to expand the programme to accommodate 10,000 youths in the next phase, with a long-term projection of reaching 100,000 beneficiaries.
Some beneficiaries, including Adeyeye Amuda, Dolapo Opeetan, Osifolu Gbenga Samuel, and Ajilore Abimbola, commended the initiative, describing it as impactful and inclusive.
Also speaking, Tayo Onikola, Regional Manager (South West 2) of the Bank of Industry, lauded the state government’s transparency and commitment to inclusive governance, while reaffirming the bank’s support for agribusiness development.
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