The Oyo State Government is set to begin the disbursement of loans to young farmers, as part of a targeted effort to strengthen agribusiness development and expand youth participation in agriculture across the state.
The initiative, which is being implemented through the Oyo State Agribusiness Development Agency (OYSADA) in collaboration with the Agricultural Credit Corporation of Oyo State, is designed to provide financial support to youths willing to build sustainable ventures within the agricultural value chain. The move reflects the government’s continued commitment to improving food security while creating employment opportunities through structured agribusiness financing.
Announcing the rollout in Ibadan, the Director-General of OYSADA, Debo Akande, stated that the disbursement process is scheduled to commence next week. He explained that the programme goes beyond funding, positioning young people at the centre of the state’s long-term agricultural transformation agenda.
“The initiative is scheduled to begin next week and aims to introduce more youths to practical opportunities in agricultural ventures, a sector the agency views as critical to economic growth and job creation,” Akande said.
The loan disbursement forms part of a broader strategy that integrates training, mentorship, and access to modern farming techniques. Beneficiaries of the programme are currently undergoing capacity development at the Centre for Skills and Services in Nasarawa State, where they are being exposed to contemporary agribusiness practices aimed at improving productivity and sustainability.
Akande noted that youth-focused interventions remain essential to unlocking the potential of the agricultural sector. According to him, the programme, themed Youth Entrepreneurship in Agriculture Programme, was specifically designed to attract and support young agropreneurs with the capacity to scale their operations.
“This focus inspired the theme of the programme: Youth Entrepreneurship in Agriculture Programme,” he said, adding that participants are being equipped with the necessary technical and managerial skills required to succeed in agribusiness.
The state government has maintained a consistent track record in agricultural financing. In 2023, it disbursed N1 billion in support loans to farmers across the seven geopolitical zones under the Sustainable Action for Economic Recovery programme. The current rollout builds on that foundation, with a sharper emphasis on youth inclusion and enterprise development.
Highlighting the selection process, Akande emphasised that beneficiaries were carefully chosen based on their readiness and commitment to grow viable agribusiness ventures. He also pointed out that previous interventions by OYSADA have successfully supported hundreds of youths through a combination of loans, training, and input support across rural and urban communities.
“OYSADA has previously empowered hundreds of youths through similar initiatives by providing materials, training and loans to help them establish agribusiness ventures across rural, suburban and urban communities,” he said.
He further disclosed that the government has strengthened partnerships with financial institutions to expand access to credit for young farmers, noting that such collaborations are critical to sustaining momentum in youth-driven agricultural development.
