The Oyo State Government, in partnership with First City Monument Bank (FCMB), has disbursed ₦1.5 billion in collateral-free loans to 1,000 young agripreneurs to boost food production and support youth-led enterprises.
The funding was delivered under the Easylift programme in collaboration with the Mastercard Foundation. It combines ₦500 million contributed by the state government with ₦1 billion deployed through the Easylift initiative.
The agripreneurs scheme is part of the Youth Entrepreneurship in Agribusiness Project (YEAP) and the Sustainable Actions for Economic Recovery (SAfER) programme, both aimed at strengthening youth participation in agriculture and improving economic resilience.
Speaking at the disbursement event held at the Fasola Agribusiness Industrial Hub, Governor Seyi Makinde said the initiative is focused on building sustainable economic systems rather than offering short-term financial relief.
“This is about reinforcing a system. Sustainable development depends on deliberate structures that connect training with enterprise and access to finance,” Makinde said.
He explained that the programme integrates agribusiness training with funding and post-financing support, ensuring a seamless transition from skills acquisition to commercial operations.
The Director-General of the Oyo State Agribusiness Development Agency, Debo Akande, disclosed that over 5,000 young people have already been trained under the initiative.
He added that beneficiaries in the current phase received about ₦1.5 million each as initial funding, with opportunities to access up to ₦50 million based on performance.
“This is structured to move participants from learning into a scalable enterprise,” Akande said.
Also speaking, the Chief Executive Officer and Managing Director of FCMB, Yemisi Edun, noted that the collaboration aligns with the bank’s commitment to agriculture as a key driver of economic growth.
“Agribusiness remains a key pathway to economic growth. Working with public and development partners allows us to combine financing with the support needed for businesses to grow,” Edun said.
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The YEAP and SAfER programmes form part of the state’s broader strategy to reduce unemployment, strengthen food systems, and promote inclusive economic growth through youth engagement in agriculture.
The partners expressed optimism that the initiative would generate employment, improve livelihoods, and enhance food security across the state.
