Osun State Government, in partnership with some financial institutions, has empowered 2,000 women and youths with Point of Sale terminals, business registration certificates, and start-up grants to boost the state’s economy and bolster the financial independence of the beneficiaries.

Tagged “Imole Business Empowerment Scheme 1.0,” the scheme, organised by the Ministry of Cooperatives and Empowerment in partnership with First Bank Plc and Fidelity Bank Plc, was held on Thursday at the Staff Development Centre, Abere, Osogbo, the state capital.

Delivering his keynote address at the official presentation of the PoS terminals, Corporate Affairs Commission business registration certificates and grants, the state governor, Ademola Adeleke, described the event as historic in his administration’s quest to empower citizens, uplift households, and strengthen the economic base of Osun.

Adeleke noted that the scheme is a practical demonstration of his resolve to take empowerment beyond slogans by giving the people of the state tools to create wealth, jobs, and prosperity.

Going down memory lane on why the Ministry of Cooperatives and Empowerment, which he described as “first of its kind in Nigeria”, was established by his administration, Governor Adeleke noted how some people questioned the necessity of the ministry, boasting that he has been vindicated “by the remarkable achievements recorded within a short period.”

Reeling off some of the achievements of the ministry, the governor said, “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. 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. At that maiden Summit, I announced a ₦1 billion Cooperative Revolving Loan, which, in response to the growing needs of our people, was later increased to ₦3.450 billion. Out of this, ₦1.6 billion Naira has already been released to beneficiaries across the state.”

“Through the Cooperative Revolving Disbursement Programme, we have implemented two phases: Ward-Based Cooperative Initiatives, expanded from 332 to 401 wards, with 389 wards fully benefiting. So far, ₦736,050,000 in interest-free loans have been disbursed at the grassroots level, directly impacting over 20,000 households; Conventional Cooperative Unions and Societies under the umbrella of FOSCOOP received ₦800,000,000, reaching over 250 cooperative unions and societies, with 10,233 individual co-operators benefiting.

“We extended our reach to Osun indigenes outside the state, disbursing ₦50,000,000 to beneficiaries in Abuja and Northern Nigeria. Together, these interventions bring our total Cooperative Revolving Loan Disbursement to ₦1,586,000,000.00.

“In September 2024, we flagged off the New Working Capital of the MSMEDF Programme, laid the foundation for the Ultra-Modern Office Complex of Osun Micro Credit Agency, and disbursed ₦250 million in MSMEDF cheques to prospective loan applicants. In May 2025, the Ministry, in collaboration with Fidelity Bank, organised a Food Bank Initiative, under which over 3,000 residents received free foodstuffs to cushion the hardship of the times.

“We are also upgrading the Sen. Isiaka Adetunji Adeleke College of Cooperative Studies, Ode-Omu, to become a Uniosun campus for cooperative and management studies, with academic activities commencing in September 2025 and approved programmes in Taxation, Transport Management, Development Studies, and more.

“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. Today’s flagship event, the Imole Business Empowerment Scheme 1.0, marks a turning point. This initiative targets 2,000 women and youths across the 30 Local Governments and the Area Office of Osun State. Each beneficiary will leave today with: a CAC Business Registration Certificate, a POS Terminal, and a Start-Up Grant, to immediately begin their journey into entrepreneurship and financial independence. Beyond the handover of tools and funds, this scheme is built on capacity building and training, enabling our beneficiaries to grow and expand their businesses sustainably.”

In his earlier address, the Commissioner for Cooperatives and Empowerment, Bayo Ogungbangbe, said the presentation of empowerment items is a testament to the present administration’s commitment to sustainable development, youth empowerment, women’s inclusion, and inclusive economic growth.

Ogungbangbe recalled that the ministry, in collaboration with Project Enable Africa and Libra Philanthropies, recently facilitated the empowerment of Persons With Disabilities through a combined fund of ₦4 million, alongside training, mentorship, and digital tools such as laptops for budding entrepreneurs in the technology, design, and creative industries.

Highlighting two inspiring beneficiaries of the empowerment programme, the Commissioner identified Miss Blessing Adeniran, a graduate of the Federal College of Education (Special), Oyo, who, despite her physical challenges, successfully completed the entrepreneurship training. He added that “she is full of dreams and determination, and with additional support, she can be a shining example of how disability is never inability.”

According to the Commissioner, the second beneficiary, Mr. Olawumi Olabode, is a resilient young man who, though living with a disability, has learned to drive a tricycle to earn a living.

“Sadly, he does not own the tricycle he drives daily, but he continues to work hard to sustain himself and his family,” Ogungbangbe remarked, calling on Governor Adeleke to support them with direct empowerment from the state government, particularly in the form of business tools and mobility assets, so they too can live more independent and dignified lives.

He called on the beneficiaries of the PoS terminals to use the opportunities wisely, grow their businesses diligently, and become worthy ambassadors of the initiative.