The Oyo State Government, in partnership with First City Monument Bank (FCMB) and development partners, has provided ₦1.5 billion in collateral-free loans to 1,000 young agripreneurs to strengthen food production and support youth-led businesses across the state.
The funding, delivered through the Easylift programme in collaboration with the Mastercard Foundation, combines ₦500 million from the state government with ₦1 billion deployed through the financing platform. The initiative forms part of the Youth Entrepreneurship in Agribusiness Project and the Sustainable Actions for Economic Recovery (YEAP-SAfER) programme, both designed to expand opportunities within the agricultural sector.
Speaking at the disbursement event held at the Fasola Agribusiness Industrial Hub, Governor Seyi Makinde said the intervention goes beyond financial support. “This is about reinforcing a system,” he said. “Sustainable development depends on deliberate structures that connect training with enterprise and access to finance.”
The programme integrates agribusiness training with access to funding and ongoing technical support, creating a structured pathway for young people to transition from skills acquisition into viable commercial operations. It targets long-term enterprise development rather than short-term empowerment.
Director-General of the Oyo State Agribusiness Development Agency, Debo Akande, noted that over 5,000 youths have already been trained under the broader initiative. He added that beneficiaries in the current phase received initial funding of about ₦1.5 million each, with the potential to scale up to ₦50 million depending on performance. “This is structured to move participants from learning into a scalable enterprise,” Akande said.
FCMB’s Chief Executive Officer and Managing Director, Yemisi Edun, described the partnership as a strategic investment in agriculture. “Agribusiness remains a key pathway to economic growth,” she said, adding that collaboration enables the provision of both financing and the support required for sustainable business expansion.
