In Oyo, youths gets N500 million support for Agribusiness

The Oyo State Government has approved a substantial sum of ₦500 million to support beneficiaries of its Youth Entrepreneurship in Agribusiness Project (YEAP).

The decision was made during an executive council meeting held on Wednesday at the state secretariat, presided over by the Acting Governor, Barr. Bayo Lawal.

This initiative, part of the state’s Sustainable Actions for Economic Recovery (SAfER) program, is aimed at boosting youth participation in agribusiness. The support package is a collaborative effort with First City Monument Bank (FCMB), which will contribute an additional ₦1 billion, bringing the total support fund to ₦1.5 billion.

Announcing the decision on the state government’s official social media handle, the tweet read:

“The Oyo State Executive Council (ExCo) met today and approved the sum of ₦500 million as enterprise support to Youth Entrepreneurship in Agribusiness Project (YEAP) beneficiaries. The support is being provided in collaboration with First City Monument Bank (FCMB), which will be providing an additional ₦1 billion, making a total of ₦1.5 billion.”

This initiative reflects the state’s commitment to fostering economic growth and empowering young entrepreneurs in the agricultural sector.