The Gbagede Ewaede Foundation has launched a ₦1 billion empowerment programme, offering ₦1 million interest-free loans to 1,000 beneficiaries in the Adire sector across Ogun Central.
In a bold move to deepen economic inclusion and revive indigenous enterprise, the initiative targets women and youths across Abeokuta South, Abeokuta North, Odeda, Obafemi-Owode, Ifo, and Ewekoro Local Government Areas. The programme is built around a simple but powerful idea: give people access to capital without the burden of interest, and allow them to grow sustainable businesses rooted in cultural heritage.
Under the leadership of Omoba Adejoke, the foundation has positioned this intervention as both an economic and cultural investment. By focusing on Adire production, the initiative goes beyond job creation to actively protect one of Abeokuta’s most recognised traditional industries.
“The goal is not just to empower individuals financially, but to rebuild a system where culture and commerce can thrive together,” a representative of the foundation said. “Adire is not just fabric; it is identity, history, and a global opportunity waiting to be scaled.”
Each of the 1,000 selected beneficiaries will receive a ₦1,000,000 interest-free loan, specifically designed to support startup or expansion efforts within the Adire value chain. From local production to branding and distribution, participants are expected to use the funds to strengthen different aspects of the business ecosystem.
The foundation has also partnered with Sure Banker to ensure transparency, structure, and accountability in the disbursement and repayment process. This collaboration is intended to help beneficiaries manage funds responsibly while building long-term financial discipline.
According to programme coordinators, the decision to make the loans interest-free is central to the vision. “We understand how crippling high-interest loans can be for small businesses,” another official explained. “This model removes that pressure and allows beneficiaries to focus on growth, creativity, and market expansion.”
Beyond funding, the initiative includes a registration and data-gathering phase to properly identify qualified participants under the age of 40. Each applicant is required to complete a formal process, after which selected individuals are onboarded into the programme structure. As part of this process, beneficiaries receive a ₦5,000 support stipend upon registration.
“This is about creating real opportunities, not just announcements,” the foundation noted. “We are carefully building a system that supports people from entry point to execution.”
The emphasis on Ogun Central is strategic. Abeokuta, widely regarded as the home of Adire, provides the perfect backdrop for a programme of this scale. By spreading the initiative across six local government areas, the foundation aims to decentralise opportunity and ensure wider participation.
Stakeholders believe the impact could extend beyond the immediate beneficiaries. With increased production capacity, improved quality, and stronger market access, the Adire industry stands to gain renewed relevance both locally and internationally.
“When you empower 1,000 entrepreneurs, you are indirectly supporting thousands of households,” the foundation added. “This is how real economic change begins — one business, one family, one community at a time.”
