The Oyo State Government has announced the approval of the sum of ₦500m aimed at empowering trained Oyo youths in the Agribusiness Program (YEAP).
During a press briefing in Ibadan, the Commissioner for Agriculture and Rural Development, Barrister Olasunkanmi Olaleye, announced that Oyo State has partnered with FCMB to launch a ₦1.5 billion loan scheme under the Youth Agribusiness Initiative. This initiative is designed to provide financial support and strengthen the agricultural sector by leveraging the skills of young entrepreneurs who have completed state-sponsored training programs through the Oyo State Agribusiness Development Agency (OYSADA).
Olaleye mentioned that OYSADA, the coordinating agency, will soon announce the procedures for disbursing funds to the beneficiaries. He emphasized that only youth entrepreneurs certified by OYSADA will be eligible for the loan scheme, ensuring that those trained and practicing agribusiness in the state can access the funds.
Similarly, the Commissioner for Information and Orientation, Prince Dotun Oyelade, revealed that the State Executive Council has approved ₦147 million for 12,600 pensioners in fulfillment of Governor Seyi Makinde’s promise. This funding is part of the relief package to support pensioners affected by the federal government’s removal of fuel subsidies, which has impacted personal and household incomes.
Oyelade stated that the distribution of the ₦147 million began in September 2024 and will continue as part of the state government’s ongoing efforts to provide relief to affected pensioners.
