Gov. Seyi Makinde of Oyo State has reaffirmed that his administration’s strategy to expand the state’s economy is anchored on youth empowerment and agribusiness.
Makinde stated this during the commencement of the disbursement of N1.5 billion to 1,000 beneficiaries under the Youth Entrepreneurs in Agriculture Programme / Sustainable Action for Economic Recovery (YEAP-SAfER) initiative.
The programme aims to empower 1,000 youths who complete state-sponsored trainings at CSS Integrated Farms in Gora, Nasarawa State, with each recipient receiving N1.5 million in funding.
The YEAP-SAfER initiative, themed Agri-Entrepreneurial Support Partnership, is a collaborative effort with First City Monument Bank and the Mastercard Foundation.
While presenting symbolic cheques to some beneficiaries at the Oyo State Agribusiness Transformation Centre, Fasola, on Monday, Makinde said the youth entrepreneurship programme, which started in 2021, had yielded tremendous positive results.
The governor stressed that youth empowerment and agribusiness are crucial for driving the state’s economic growth and development.
According to him, the YEAP-SAfER fund disbursement reinforces a system supported by various actors within his administration. He charged beneficiaries to use the funds wisely to improve productivity in the state and secure their own futures.
Makinde added that, being a loan without collateral, discipline and accountability must be hallmarks of all beneficiaries. He emphasised that sustainable development is built on deliberate, concerted actions over time, ensuring fairness, transparency, and equal opportunities for all.
He noted that his administration’s roadmaps have reshaped the state’s future, with successes in agribusiness, road infrastructure, and other key areas. He added that Oyo State is now among the top-performing states across key economic indices in Nigeria, making it a worthy investment destination.
The governor appreciated the FCMB and Mastercard Foundation for providing N1 billion to match the N500 million capital contributed by the state government. He encouraged more organisations to leverage the YEAP-SAfER platform to impact lives on a large scale.
In his remarks, Dr Debo Akande, Director-General of the Oyo State Agribusiness Development Agency, said the financial empowerment of agripreneurs is the culmination of deliberate efforts to build a sustainable future in agribusiness.
He noted that the programme creates a structured pathway connecting training to enterprise, finance, and growth. Over 50,000 young agripreneurs have been trained across the state in the past five years, with hundreds benefiting from grants, incubation, land access, and enterprise support. Many have scaled businesses from modest beginnings of ₦100,000 to multi-million naira enterprises that now create jobs.
Akande explained that the financial support is an interest-free loan, urging beneficiaries to maximise the opportunity to progress to N5 million loans after building a solid three-year track record. He added that successful participants could access up to N50 million through programmes with the Bank of Industry.
The FCMB representative and Ibadan Zonal Director, Mr Kabiru Salawu, commended the governor for showing confidence in the state’s youth and emphasised agribusiness as a key driver of wealth creation and sustainable development.
Speaking on behalf of YEAP-SAfER beneficiaries, Mr Dolapo Opekun thanked the governor, noting that the initiative would enhance their productivity.
