Oyo trains 180 traders, artisans on business insurance

The Oyo State government has trained One Hundred and Eighty Traders and Artisans with prerequisite leadership skills which are significant step to support the growth and development of Traders and Artisans Micro, Small, and Medium Enterprises (MSMEs) in the state.

The Training and Business insurance launch was held at Federal Government Secretariat, Ikolaba Road, Agodi, Ibadan, with participants from the 33 Local government areas in attendance.

A statement issued on Wednesday by the Commissioner for Information and Orientation, Prince Dotun Oyelade, said that the initiative was part of the state government’s broader efforts to support MSMEs, traders, and artisans, which are critical to the state’s economic growth.

Also, the Commissioner for Investment, Trade, Cooperatives and industry, Adeniyi Adebisi during the leadership training program and launch of a business insurance said the initiative was specifically designed for traders and Artisans in the State.

According to the Commissioner, who was represented by the Assistant Director of Trade, Mr. Olawale Olanrewaju, the training program aims to educate traders and artisans on the importance of insurance policies.

He noted that the state government did not want any business to fail in Oyo and is committed to providing the necessary support.

The Commissioner emphasized that insurance companies now have a regulatory body that supervises them, ensuring that they pay compensation when accidents or permanent disabilities occur.

He said “The Oyo State Government has also approved a single-digit interest loan scheme for Traders and Artisans in the 2025 budget”.