Oyo State Governor, ‘Seyi Makinde has reiterated that youth empowerment and agribusiness remained central to his administration’s vision to expand the economy of the state.
The governor stated this on Monday, at the Oyo State Agribusiness Transformation Centre, Fasola, during a ceremony to kickstart the disbursement of N1.5 billion to 1,000 beneficiaries under the Youth Entrepreneurs in Agriculture Programme/the Sustainable Action for Economic Recovery (YEAP-SAfER) initiative.
The YEAP-SAfER initiative, which will see 1,000 youths who had participated in state-sponsored trainings at the CSS Integrated Farms, Gora, Nasarawa State get N1.5 million each, was in partnership with the First City Monument Bank (FCMB)/Mastercard Foundation.
The governor also announced the approval of N10,000 monthly as transport support for the civil/public servants in Oyo State as well as at the local government level, noting that the intervention is part of his administration’s response towards cushioning the effect of the rising cost of transportation and financial burden on workers so as to maintain their productivity.
Speaking after presenting symbolic cheques to some of the beneficiaries of the YEAP-SAfER initiative themed “Agri-Entrepreneurial Support Partnership,” the governor congratulated the beneficiaries, saying that the youth entrepreneurs in agriculture programme, which started in 2021, has brought tremendous positive results.
He noted that the YEAP-SAfER disbursement of funds is about reinforcing a system with the support and effort of different actors of his team in government, stressing that sustainable development is built on deliberate and concerted actions over time and on ensuring fairness, transparency, and equal opportunities for all.
The governor equally noted that his administration’s roadmaps have helped to reshape the future of the state, with several successes in the agribusiness sector, road infrastructure and other key areas, but that he would suggest the trajectory for the next administration by pointing it in the right direction on the YEAP initiative as well as the completion of the 110km Circular Road, among others.
He pointed out that the state is no longer where it used to be, as it has positioned itself among the top performing states across key economic indices in Nigeria, thus giving it the status of a worthy investment destination.
He added that this achievement was made possible because whenever the state is confronted with challenges, it usually faced the challenges head-on.
He said: “Back in 2021 when the first batch of YEAP trainees were sent to CSS Global Integrated in Nasarawa, some of you here today started that journey with uncertainty. But today, you stand with opportunity in your hands. So, today is not just about disbursing funds, it is about reinforcing a system.
“You remember I always say that I am not the only one doing all the things we are witnessing in Oyo State; it’s the team. So, you have various actors within the team.
“So, we are demonstrating that sustainable development is not built on isolated interventions, but on deliberate, structured, and consistent actions over time.
“From the very beginning of this administration, we understood that economic prosperity does not happen by chance; it happens when three things are prioritised. One is education, knowledge. That’s why we started by sending the YEAP trainees to Nasarawa so that you can have a perspective of modern agribusiness practices. Entrepreneurship also must be present. That’s why some of you are saying today that you have started employing other people.
“And, finally, productivity must be present. You have to be productive. It’s not about sharing federal allocations in Abuja.
“So, those three things must be present for economic prosperity to happen. That understanding informed what we call the Oyo State Roadmap for Accelerated Development 2019-2023.
“Under that roadmap, we focused on building capacity, strengthening institutions. Of course, OYSADA wasn’t in existence. Yes, we had OYSADEP, but it was moribund. So, we created a new institution and that is why we are here today because they’ve done really well.
“We also created opportunities for our people to become active participants, not just observers in the economy. But we also knew that acceleration without sustainability will be short-lived. That is why we evolved into a Roadmap for Sustainable Development 2023-2027, ensuring that every gain we make today can be sustained tomorrow.
“The YEAP-SAfER initiative sits firmly within this vision. These are youth entrepreneurs in agribusiness projects and then we have SAfER, which is the Sustainable Action for Economic Recovery. So, the two of them coming together, means the people collecting their cheques today will go out there to create wealth for our state.
“Over the past few years, as I said, we have invested in training, we have provided input, built knowledge, and exposed our young people to modern agribusiness practices. So, what we are doing today, within this disbursement, is taking the next logical step, enabling productivity to scale.
“As many people as we can empower, and then they can employ more people, then the unemployed, especially the youth population, will be reducing because training without access to resources limits potential and resources without structure leads to wastages.”
The governor charged the beneficiaries to put the funds to good use so as to improve productivity in the state and to also secure their own future, noting that the facility being a loan without collateral meant that discipline and accountability should be the hallmarks of the beneficiaries.
The governor also extended appreciation to FCMB/Mastercard Foundation, which provided N1 billion to match the N500million capital provided by Oyo State, saying that the bodies’ additional support strengthened the YEAP-SAfER initiative and demonstrated what is possible when public and private sector actors align around a shared mission.
He encouraged more organisations to take advantage of the YEAP-SAfER platform and see it as an opportunity to impact lives on a large scale.
Earlier in his welcome address, the Director-General, Oyo State Agribusiness Development Agency, Dr Debo Akande, said the financial empowerment of the agripreneurs is the culmination of a deliberate effort to build a sustainable future in agribusiness with a shift from intervention to structure and from activities to system through the beneficiaries.
He added that the programme is aimed at creating a pathway that would connect training to enterprise, finance and ultimately growth, stating that over 50,000 young entrepreneurs in agribusiness have been trained across the state in the past five years.
According to Akande, hundreds of such youths have benefited from grants, incubation, land access, enterprise support over the years and they have been able to scale their businesses from modest beginnings of ₦100,000 to multi-million naira enterprises that now create jobs.
He explained further that the financial support is an interest-free loan, therefore, urging the beneficiaries to maximise the opportunity for them to progress to ₦5 million loan after building a solid three-year track records and also move into programmes with the Bank of Industry, where they can access up to ₦50 million loan.
He thanked the financial partners, First City Monument Bank and the Mastercard Foundation for aligning with the vision for sustainable progress through shared purpose and coordinated efforts.
Also speaking, FCMB representative and Zonal Director, Mr Kabiru Salawu, commended the governor for a strong statement of confidence in the young people of the state and in the power of agribusiness to drive wealth creation and sustainable development, which according to him, aligns with his organisation’s commitment to inclusive and sustainable growth.
He expressed the delight of FCMB to partner with the Oyo State Government and the Mastercard Foundation on the visionary initiative.
In her remarks, the representative of the Bank of Industry, South-West Region, Mrs Tayo Onikola, also appreciated the governor for supporting young farmers especially women in agribusiness, noting that the Bank of Industry had established joint initiatives to support Small and Medium Enterprises.
In their separate goodwill messages, the Chairman, Oyo State Youth Development Agency, Prince Adebowale Falana and the Chairman, Oke-Ogun Youth Forum, among others, thanked the governor for empowering and supporting the youth with the laudable project and charged the youth to continue to support the government.
Speaking on behalf of the YEAP-SAfER beneficiaries, Dolapo Opekun appreciated the governor, noting that the initiative would improve their productivity.
The event had in attendance the Deputy Governor of Oyo State, Barr. ‘Bayo Lawal; Speaker, Oyo State House of Assembly, Rt. Hon. Adebo Ogundoyin; Secretary to the State Government, Prof. Musibau Babatunde; Chief of Staff, Otunba (Dr) Segun Ogunwuyi; Head of Service, Mrs Olubunmi Oni, mni; Deputy Chief of Staff, Hon Kazeem Adeniyi; Senior Executive Assistant to the Governor on General Duties; Chief Bayo Lawal; Chairman and Co-Chairman of the Oyo State Elders’ Council, Chief Saka Balogun and Elder Wole Oyelese; Oyo State PDP Chairman, Hon Dayo Ogungbenro; Chairman of Local Government Chairmen in Oyo State, Hon Sikiru Sanda; and commissioners, among other top government functionaries.
