Makinde moves to strengthen agribusinesses in Oyo, disburses N1.5bn to 1,000 youths
By Adejayan Gbenga
Governor Seyi Makinde of Oyo State has disbursed N1.5 billion to 1,000 beneficiaries of the Youth Entrepreneurship in Agribusiness Project (YEAP) under the Sustainable Actions for Economic Recovery (SAfER) initiative.
The beneficiaries which were trained in 2021 at CSS Global Integrated Farms, accessed the funds through a partnership between the Oyo State Agribusiness Development Agency (OYSADA), First City Monument Bank, and the Mastercard Foundation; and will receive N1.5 million each to boost agribusiness and entrepreneurship.
Describing the programme as “more than financial support,” Governor Makinde said it is designed to build sustainable economic systems and should be put to good use.
Addressing newsmen, the OYSADA Director-General, Debo Akande, revealed that over 50,000 youths have been trained under the programme, with more than 1,000 active youth-led agribusinesses.
He added that beneficiaries could access larger loans, ranging from N3 million to N50 million, through the Bank of Industry, depending on their business growth.
Reacting to the development, Mrs. Tayo Onikola, the regional manager of the Bank of Industry (South West 2), commended the governor for transparency and gender-inclusive policies, pledging continued support for youth agribusiness initiatives.
