Oyo State Disburses N1.5bn to Young Farmers Initiative

The Oyo State Government, in collaboration with FCMB and the Mastercard Foundation, has launched an initiative to disburse N1.5 billion in collateral-free loans to support 1,000 young agripreneurs. This funding is part of the EasyLift program, which combines N500 million from the state government and N1 billion from FCMB.

The program is designed to enhance youth entrepreneurship in agriculture and is part of a broader strategy to strengthen the economy and reduce unemployment. Governor Makinde emphasized the importance of building long-term economic capacity rather than providing temporary financial support.

Debo Akande, Director General of the Oyo State Agribusiness Development Agency, noted that 5,000 young people have been trained so far, with beneficiaries receiving initial funds of N1.5 million and potential access to N50 million based on business performance. Yemisi Edun, Managing Director and Chief Executive Officer of FCMB, highlighted the partnership's focus on agricultural growth as a key driver for economic development.