The Osun State Government has officially launched the Imole Business Empowerment Scheme 1.0, a major economic intervention aimed at strengthening small businesses and improving financial independence among women and youths across the state. The launch took place on Thursday at the Staff Development Centre, Abere, Osogbo, where 2,000 beneficiaries received Point of Sale terminals, Corporate Affairs Commission business registration certificates, and start-up grants.
The empowerment programme is being implemented by the Ministry of Cooperatives and Empowerment in partnership with First Bank Plc and Fidelity Bank Plc. It is designed to support entrepreneurship, create jobs, and expand access to financial services at the grassroots level.
Speaking at the official presentation of the PoS terminals, CAC certificates, and grants, Governor Ademola Adeleke described the launch of the Imole Business Empowerment Scheme 1.0 as a historic moment in his administration’s efforts to uplift citizens and strengthen the state’s economic base. According to him, the initiative reflects his commitment to moving empowerment beyond political slogans and delivering real tools that help people create wealth and sustainable livelihoods.
Adeleke said the scheme demonstrates his administration’s resolve to empower households by giving beneficiaries the means to start and grow businesses that can contribute to economic development and job creation. He explained that providing PoS terminals, formal business registration, and start-up capital would help young people and women participate more actively in the formal economy.
While reflecting on the creation of the Ministry of Cooperatives and Empowerment, which he described as “first of its kind in Nigeria,” the governor recalled that the ministry was initially met with skepticism. He noted that critics questioned the need for such a ministry, but added that the achievements recorded within a short period had justified the decision.
“The Ministry has become a hub of innovation, and its work has been recognised nationally, including at the National Cooperatives Awards and Exhibition on 17 November 2023,” Adeleke said. “Permit me to highlight a few of our giant strides: In January 2024, Osun State held its First Cooperative Summit and Awards, the first of its kind in the history of our state.”
He further stated that during the maiden summit, his administration announced a ₦1 billion Cooperative Revolving Loan, which was later increased to ₦3.450 billion in response to growing demand. Out of the total amount, he said ₦1.6 billion had already been released to beneficiaries across the state.
According to the governor, the Cooperative Revolving Disbursement Programme has been implemented in two phases. He explained that under the Ward-Based Cooperative Initiatives, coverage expanded from 332 wards to 401 wards, with 389 wards fully benefiting from the programme.
“So far, ₦736,050,000 in interest-free loans have been disbursed at the grassroots level, directly impacting over 20,000 households,” Adeleke said. He added that conventional cooperative unions and societies under the umbrella of FOSCOOP received ₦800,000,000, reaching over 250 cooperative unions and societies and benefiting 10,233 individual co-operators.
The governor also disclosed that the programme was extended to Osun indigenes living outside the state. He said ₦50,000,000 was disbursed to beneficiaries in Abuja and Northern Nigeria, bringing the total Cooperative Revolving Loan Disbursement to ₦1,586,000,000.00.
Adeleke noted that in September 2024, the state flagged off the New Working Capital of the MSMEDF Programme, laid the foundation for the Ultra-Modern Office Complex of the Osun Micro Credit Agency, and disbursed ₦250 million in MSMEDF cheques to prospective loan applicants.
He added that in May 2025, the ministry, in collaboration with Fidelity Bank, organised a Food Bank Initiative, during which over 3,000 residents received free foodstuffs to ease economic hardship.
The governor also announced plans to upgrade the Sen. Isiaka Adetunji Adeleke College of Cooperative Studies, Ode-Omu, into a Uniosun campus focused on cooperative and management studies. He said academic activities would commence in September 2025, with approved programmes in Taxation, Transport Management, Development Studies, and related fields.
“Our administration has empowered persons with disabilities, in partnership with Project Enable Africa, and has rehabilitated and upgraded structures at the Cooperative College in Ode-Omu,” Adeleke said. “Today’s flagship event, the Imole Business Empowerment Scheme 1.0, marks a turning point.”
He explained that the initiative targets 2,000 women and youths across the 30 Local Governments and the Area Office of Osun State. According to him, each beneficiary received a CAC Business Registration Certificate, a PoS terminal, and a start-up grant to begin their entrepreneurial journey, supported by capacity building and training for long-term business growth.
Earlier, the Commissioner for Cooperatives and Empowerment, Bayo Ogungbangbe, said the presentation of empowerment items reflects the administration’s commitment to sustainable development, youth empowerment, women’s inclusion, and inclusive economic growth.
Ogungbangbe recalled that the ministry, working with Project Enable Africa and Libra Philanthropies, recently empowered Persons With Disabilities with a combined fund of ₦4 million, alongside training, mentorship, and digital tools such as laptops for entrepreneurs in technology, design, and creative sectors.
Highlighting beneficiaries, he mentioned Miss Blessing Adeniran, a graduate of the Federal College of Education (Special), Oyo, who completed entrepreneurship training despite physical challenges. “She is full of dreams and determination, and with additional support, she can be a shining example of how disability is never inability,” he said.
The commissioner also identified Mr. Olawumi Olabode, a young man living with a disability who earns a living by driving a tricycle. “Sadly, he does not own the tricycle he drives daily, but he continues to work hard to sustain himself and his family,” Ogungbangbe said, while calling for additional support to help beneficiaries live more independent lives.
He urged recipients of the PoS terminals to use the opportunity wisely, grow their businesses diligently, and serve as worthy ambassadors of the initiative.
