Makinde Disburses N1.5bn To 1,000 YEAP-SAFeR Beneficiaries, Approves N10,000 Relief For Workers
•By OYENIYI AWOJOODU,
IBADAN — GOVERNOR Seyi Makinde of Oyo State on Monday disbursed a total of N1.5 billion to 1,000 youths under the Youth Entrepreneurship in Agribusiness Project (YEAP), an initiative of the Sustainable Actions for Economic Recovery (SAfER) programme.
Each beneficiary received N1.5 million as part of the state government’s efforts to boost agribusiness development and youth empowerment.
The beneficiaries, who were trained in 2021 at CSS Global Integrated Farms, accessed the financial support through a partnership involving the Oyo State Agribusiness Development Agency (OYSADA), First City Monument Bank, and the Mastercard Foundation.
Speaking at the disbursement ceremony held at the Fasola Agribusiness Industrial Hub, Makinde said the initiative goes beyond financial assistance, describing it as part of a deliberate strategy to build sustainable economic systems.
“What we are doing today is not just disbursing funds; it is about reinforcing a system. Sustainable development is built on deliberate structures and consistent actions over time,” the governor said.
He explained that the programme was designed to transition participants from training to enterprise by providing both technical knowledge and financial backing.
Makinde noted that his administration’s development agenda prioritises education, entrepreneurship, and productivity, stressing that true economic growth is driven by value creation rather than mere distribution of resources.
According to him, the YEAP initiative aligns with the state’s policy shift from the Roadmap for Accelerated Development (2019–2023) to the Roadmap for Sustainable Development (2023–2027).
The governor urged beneficiaries to utilise the funds responsibly, noting that the support is an interest-free loan provided without collateral.
“What you have received today is not just support; it is a responsibility. We expect discipline, accountability, and results,” Governor Makinde said.
In response to prevailing economic challenges, Makinde also announced a N10,000 monthly transportation allowance for state and local government workers.
The measure, which takes effect from April, will run for an initial period of three months to cushion the impact of rising fuel costs.
Earlier, the Director-General of OYSADA, Debo Akande, described the initiative as a structured pathway linking training, enterprise, finance, and growth.
He disclosed that over 50,000 youths have been trained under the programme, with more than 1,000 youth-led agribusiness enterprises currently operating across the state.
Akande further revealed that beneficiaries could access additional funding based on performance, progressing from the initial N1.5 million support to loans of up to N3 million, N5 million, and potentially N50 million through the Bank of Industry, subject to demonstrated business growth.
“This is not just about support; it is about building systems that sustain success. When opportunity is structured properly, young people will rise,” he said.
He added that the programme has the potential to scale up to 10,000 youths in its next phase, with a long-term target of reaching 100,000 beneficiaries.
Some of the beneficiaries, including Alhaji Adeyeye Amuda, Dolapo Opeetan, Osifolu Gbenga Samuel, and Ajilore Abimbola, commended the governor for his inclusive leadership style and commitment to youth development.
Also speaking, the Bank of Industry Regional Manager (South West 2), Mrs. Tayo Onikola, praised the Makinde administration for its transparency and gender-inclusive governance, while pledging continued support, particularly in agribusiness entrepreneurship.