Oyo partners FCMB, Mastercard, disburses N1.5bn to 1,000 agripreneurs

Governor Seyi Makinde of Oyo State has said that youth empowerment and agribusiness remain central to his administration’s vision to expanding the economy of the State.

Governor Makinde stated this 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.

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.

Noting that his administration’s roadmaps had helped to reshape the future of the State, with several successes in the agribusiness sector, road infrastructure and other key areas, he said 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 added that the achievement was made possible because whenever the state is confronted with challenges, it usually faced the challenges head-on.

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.

Debo Akande, Director-General, Oyo State Agribusiness Development Agency, earlier in his welcome address, said the financial empowerment of the agripreneurs was the culmination of a deliberate effort to building a sustainable future in agribusiness with a shift from intervention to structure and from activities to system through the beneficiaries.