Governor Seyi Makinde of Oyo State on Monday flagged off the disbursement of N1.5 billion to 1,000 young agripreneurs under the Youth Entrepreneurs in Agriculture Programme/Sustainable Action for Economic Recovery (YEAP-SAfER) initiative, reiterating his administration’s commitment to youth empowerment and economic expansion through agribusiness.

The disbursement ceremony, held at the Oyo State Agribusiness Transformation Centre, Fasola, marked a significant milestone in the state’s efforts to deepen agricultural entrepreneurship and create employment opportunities for young people.

Under the initiative, each beneficiary—drawn from participants trained at CSS Integrated Farms in Gora, Nasarawa State—is to receive N1.5 million as financial support to scale up agribusiness ventures. The programme is being implemented in partnership with First City Monument Bank and the Mastercard Foundation.

Speaking at the event, Makinde described the intervention as a deliberate step towards building a sustainable economic structure, noting that youth empowerment remains central to his administration’s development agenda.

He said the disbursement goes beyond financial support, emphasising that it represents the strengthening of a system designed to promote productivity, entrepreneurship and long-term economic growth.

“This is not just about disbursing funds; it is about reinforcing a system. Sustainable development is not built on isolated interventions but on deliberate, structured and consistent actions over time,” the governor said.

Makinde noted that the YEAP initiative, which commenced in 2021, has yielded positive outcomes, particularly in equipping young people with modern agribusiness skills and exposing them to best practices.

He identified education, entrepreneurship and productivity as the three pillars required to drive economic prosperity, stressing that his administration’s development roadmaps were built on these principles.

According to him, the state has recorded measurable progress across key sectors, including agribusiness and infrastructure, positioning Oyo as a competitive investment destination.

The governor added that while his administration has laid a solid foundation, it would also provide direction for continuity, especially in sustaining initiatives such as YEAP and completing critical infrastructure like the 110-kilometre Circular Road.

In a related development, Makinde announced the approval of a N10,000 monthly transport support for civil and public servants in the state, including those at the local government level. He said the measure was introduced to cushion the effects of rising transportation costs and economic pressures on workers.

The governor urged beneficiaries of the YEAP-SAfER scheme to utilise the funds judiciously, noting that the facility, though provided without collateral, requires discipline and accountability.

He also commended development partners for their support, disclosing that the N1.5 billion fund comprises N500 million provided by the state government and N1 billion contributed by its partners.

Earlier, the Director-General of the Oyo State Agribusiness Development Agency, Dr Debo Akande, said the programme represents a shift from short-term interventions to a structured system aimed at building sustainable agribusiness enterprises.

He disclosed that over 50,000 youths have been trained in agribusiness across the state in the past five years, with many beneficiaries growing their businesses into viable ventures.

Representatives of partner organisations, including financial institutions, lauded the initiative, describing it as a model for inclusive growth and youth-driven economic development.

The event was attended by top government officials, stakeholders in the agricultural sector and youth representatives, underscoring the broad support for the initiative.