Oyo trains 180 traders, artisans in business leadership

The Oyo State Government has trained 180 traders and artisans with prerequisite business leadership skills.The training and business insurance launch was held in Ibadan with 33 local government councils participating.

The Commissioner for Investment, Trade, Cooperatives and Industry, Adeniyi Adebisi, during the event, said the initiative was specifically designed for traders and artisans in the state.

According to the Commissioner, who was represented by the Assistant Director of Trade, Olawale Olanrewaju, the training programme aims to educate traders and artisans on the importance of insurance policies. He noted that the state government does not want any business to fail in Oyo state and is committed to providing the necessary support.

The Commissioner emphasized that insurance companies now have a regulatory body that supervises them, ensuring that they pay compensation when accidents or permanent disabilities occur.

He said: “The Oyo State Government has also approved a single-digit interest loan scheme for traders and artisans in the 2025 budget. The flexible loan programme requires minimal collateral, making it easier for businesses to access funding. With this, the government aims to provide financial support to businesses, enabling them to purchase necessary tools and equipment.”

The Babaloja General of Oyo State, Yekini Abass, commended the initiative, stating that leadership plays a vital role in business success. He emphasised the importance of insurance as a shield against unforeseen circumstances, protecting businesses from unplanned expenses and offering a financial cushion.

He expressed gratitude to Gov. Seyi Makinde for initiating the training, which is expected to have a positive impact on the businesses of traders and artisans in Oyo.

The Babaloja also appreciated the governor’s efforts in providing access roads, employment of more workers, and ensuring timely payment of workers’ salaries.

The training covered essential topics including leadership and strategy for business growth, understanding business insurance for future stability, effective risk management, and leadership in crisis.