April 03, (THEWILL) — The Oyo State Government, in partnership with First City Monument Bank (FCMB) and the Mastercard Foundation, has disbursed ₦1.5 billion in collateral-free loans to 1,000 young agripreneurs, in a move aimed at boosting food production and strengthening youth-led enterprises.
The funding, delivered under the Easylift programme, combines ₦500 million from the state government with ₦1 billion provided through FCMB’s financing platform.
The initiative forms part of the Youth Entrepreneurship in Agribusiness Project (YEAP) and aligns with the state’s broader Sustainable Actions for Economic Recovery (SAfER) programme.
Speaking at the disbursement event held at the Fasola Agribusiness Industrial Hub, Governor Seyi Makinde said the intervention is designed to build long-term economic capacity rather than provide temporary relief.
He stated,
“This is about reinforcing a system. Sustainable development depends on deliberate structures that connect training with enterprise and access to finance.”
The programme integrates agribusiness training with funding and ongoing support, ensuring beneficiaries can transition from skills acquisition to commercial-scale operations.
According to Debo Akande, Director-General of the Oyo State Agribusiness Development Agency, over 5,000 young people have been trained so far.
He added that beneficiaries in the current phase received an average of ₦1.5 million each as initial capital, with high-performing participants eligible to access up to ₦50 million as their businesses scale.
The initiative underscores a growing push to position agriculture as a viable pathway for youth employment and economic resilience in Nigeria.
Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.
