Oyo State, FCMB Launch N1.5bn Youth Agripreneur Program

The Oyo State Government, in partnership with First City Monument Bank (FCMB) and the Mastercard Foundation, has initiated the Easylift program, which aims to empower 1,000 young agripreneurs with a total of N1.5 billion in collateral-free loans. This program is part of a broader initiative to enhance youth entrepreneurship and support agricultural business projects within the state.

Governor Seyi Makinde emphasized that the program is designed to build long-term economic capacity rather than provide temporary financial support. The funding comprises N500 million from the state government and N1 billion from FCMB.

Debo Akande, Director General of the Oyo State Agribusiness Development Agency, noted that 5,000 young people have been trained so far, with the current phase enabling beneficiaries to access initial funds of N1.5 million, potentially scaling up to N50 million based on business performance. Yemisi Edun, Managing Director of FCMB, highlighted the bank's focus on agricultural growth as a key driver for economic development.