The Oyo State government in collaboration with a commercial bank, FCMB is set to empower youths in agribusiness with a 1.5billion naira loan scheme.
The state Commissioner for Agriculture and Rural Development, Barrister Olasunkanmi Olaleye, said this while briefing newsmen on the outcome of the state Executive Council Meeting, presided over by the Acting Governor, Barr. Bayo Lawal.
Barrister Olaleye, hinted that the state government through Oyo State agribusiness development agency OYSADA will contribute 500 million naira out of the 1.5billion naira agric loan scheme for youth empowerment while the bank will provide the remaining amount.
Barr Olaleye further said that youths, participating in agribusiness across the state would benefit from the loan scheme under the supervision of OYSADA.
“The State Executive Council has approved the sun of 500 million naira counterpart funds under a loan scheme, and that FCMB Plc will run along with OYSADA.
“So, Oyo state government is contributing 500 million naira while FCMB will contribute the sum of N1billion naira under the scheme.
” It is an Agric loan scheme for youths in agribusiness and it’s going to be implemented under OYSADA. So, youths entrepreneurs in agribusiness certified by OYSADA will be able to benefit from that loan scheme.” Olaleye said.” He said
Similarly, the Commissioner for Information and Orientation, Prince Dotun Oyelade disclosed that the State Executive Council also approved total sum of 147 million naira for 12,600 (twelve thousand) pensioners in the state.
Prince Oyelade said the funds was in fulfillment of governor Seyi Makinde’s promise to retired workers as their hardship allowance occasioned by federal government’s removal of fuel subsidy with direct adverse effects on personal and household income.
“It was revealed at the state executive council meeting that as promised by His Excellency during the SAfER (Sustainable Action for Economic Recovery) activities, a sum of 147 million naira has been released to12,600 pensioners, that it will be part of the relief package that his administration will give those pensioners particularly those who have been affected by the removal of fuel subsidy by the federal government.
“This process started in September, 2023, and it is a continuous exercise so, this was effected yesterday that the sum of 147 million naira was distributed to pensioners at the Pensions House.” Oyelade said.
