One thousand young agripreneurs in Oyo State have secured ₦1.5 billion in collateral-free loans through a partnership between the Oyo State Government and First City Monument Bank (FCMB).
The funding, split as ₦500 million from the state and ₦1 billion from FCMB, falls under the Easylift programme with the Mastercard Foundation to boost food production and youth-led agribusinesses.
This initiative ties into the Youth Entrepreneurship in Agribusiness Project (YEAP) and the Sustainable Actions for Economic Recovery (SAfER) programme, which provide skills training, business support, and finance for sustainable growth.
The disbursement occurred at the Fasola Agribusiness Industrial Hub.
Governor Seyi Makinde emphasized that the effort builds beyond quick loans, creating a system blending training, enterprise development, and funding for long-term success.
FCMB CEO Yemisi Edun highlighted agriculture’s role in economic growth, stressing that such collaborations deliver not just capital but essential thriving support.
Oyo State Agribusiness Development Agency Director-General Debo Akande noted over 5,000 youths trained so far. Beneficiaries received up to ₦1.5 million each in this phase, with potential to scale to ₦50 million based on performance, ensuring smooth transitions to scalable ventures.
