The Oyo State Government, in partnership with First City Monument Bank (FCMB) and the Mastercard Foundation, has disbursed N1.5 billion in collateral-free loans to 1,000 young agripreneurs to boost food production and support youth-led businesses.
The intervention was delivered through the Easylift programme, combining N500 million from the state government with N1 billion deployed by FCMB under the initiative, which is supported by the Mastercard Foundation.
The agripreneurs scheme is implemented under the Youth Entrepreneurship in Agribusiness Project (YEAP) and the Sustainable Actions for Economic Recovery (SAfER) programme, both designed to strengthen youth participation in agriculture and drive economic recovery.
Speaking at the disbursement event held at the Fasola Agribusiness Industrial Hub, Governor Seyi Makinde said the initiative is structured to deliver long-term economic impact rather than short-term relief.
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"This is about reinforcing a system," Makinde said, adding, "Sustainable development depends on deliberate structures that connect training with enterprise and access to finance."
He noted that the programme integrates training, funding and post-financing support, ensuring beneficiaries can transition from skill acquisition to viable commercial operations.
Director-General of the Oyo State Agribusiness Development Agency, Debo Akande, disclosed that more than 5,000 young people have been trained under the initiative so far.
"This is structured to move participants from learning into a scalable enterprise," Akande said, adding that beneficiaries in the current phase received about N1.5 million each, with opportunities to access up to ₦50 million depending on business performance.
On the banking side, Managing Director and Chief Executive Officer of FCMB, Yemisi Edun, said the collaboration reflects the bank's commitment to agriculture as a key driver of economic growth.
"Agribusiness remains a key pathway to economic growth," Edun said, adding, "Working with public and development partners allows us to combine financing with the support needed for businesses to grow."
The YEAP and SAfER programmes form part of Oyo State's broader strategy to reduce unemployment, strengthen food systems and promote inclusive growth through youth-driven enterprise.
The partners expressed confidence that the initiative will stimulate job creation, improve livelihoods and deepen economic resilience across the state.
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