Oyo State’s N1.5bn Agri-Business Initiative to Support 1,000 Youths

Oyo State Government and First City Monument Bank (FCMB) have partnered to support 1,000 young agripreneurs with N1.5 billion in collateral-free loans, aiming to boost food production and support youth-led businesses.

The initiative, part of the Youth Entrepreneurship in Agribusiness Project (YEAP) and Sustainable Actions for Economic Recovery (SAfER) programme, will provide initial funding of N1.5 million to each beneficiary, with potential access to up to N50 million based on business performance. Over 5,000 young people have been trained in agribusiness, and the programme is expected to support job creation, improve livelihoods, and advance inclusive economic growth.

Key Highlights:

• N1.5 billion in collateral-free loans for 1,000 agripreneurs
• Partnership between Oyo State Government and FCMB
• Focus on youth empowerment and food security
• Potential for up to N50 million funding per beneficiary

Governor Seyi Makinde emphasized that the programme is designed to build long-term economic capacity, not just provide one-off financial support. The initiative aligns with Oyo State’s broader plan to strengthen food systems and reduce unemployment through youth participation.

By: Gloryann Osang.