Makinde Flags Off N1.5 Billion YEAP-SAfER Disbursement, Approves N10,000 Transport Support for Workers
Governor Seyi Makinde of Oyo State has officially launched the disbursement of N1.5 billion to 1,000 young agripreneurs as part of the Youth Entrepreneurs in Agriculture Programme/Sustainable Action for Economic Recovery (YEAP-SAfER) initiative. This significant event, held at the Oyo State Agribusiness Transformation Centre in Fasola, underscores the administration's unwavering commitment to fostering youth empowerment and driving economic expansion through strategic agribusiness investments.
Empowering Young Agripreneurs with Financial Support
Under the YEAP-SAfER scheme, each beneficiary, selected from participants trained at CSS Integrated Farms in Gora, Nasarawa State, will receive N1.5 million. This financial injection is designed to help scale up their agribusiness ventures, transforming ideas into sustainable enterprises. The program is a collaborative effort involving the Oyo State government, First City Monument Bank, and the Mastercard Foundation, highlighting a robust public-private partnership aimed at inclusive growth.
During the ceremony, Governor Makinde emphasized that this initiative goes beyond mere fund distribution. "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," he stated. He pointed out that the YEAP program, which began in 2021, has already equipped thousands of youths with modern agribusiness skills and exposed them to industry best practices, yielding positive outcomes across the state.
Three Pillars of Economic Prosperity
Makinde identified education, entrepreneurship, and productivity as the foundational pillars necessary for driving economic prosperity. He stressed that his administration's development roadmaps are built on these principles, leading to measurable progress in key sectors such as agribusiness and infrastructure. This progress, he noted, positions Oyo State as a competitive destination for investment, with a solid foundation laid for future growth and continuity.
In addition to the agribusiness initiative, the governor announced the approval of a N10,000 monthly transport support for all civil and public servants in Oyo State, including those at the local government level. This measure is intended to cushion the effects of rising transportation costs and broader economic pressures on workers, demonstrating the government's responsiveness to the needs of its workforce.
Accountability and Long-Term Vision
Governor Makinde urged beneficiaries of the YEAP-SAfER scheme to utilize the funds judiciously, noting that while the facility is provided without collateral, it requires discipline and accountability to ensure its success. He also commended development partners for their support, revealing that the N1.5 billion fund comprises N500 million from the state government and N1 billion contributed by partners.
Dr. Debo Akande, Director-General of the Oyo State Agribusiness Development Agency, highlighted the program's shift from short-term interventions to a structured system focused on 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 successfully growing their businesses into viable ventures.
Representatives from partner organizations, including financial institutions, praised the initiative as a model for inclusive growth and youth-driven economic development. The event was well-attended by top government officials, agricultural stakeholders, and youth representatives, reflecting broad support for the initiative and its potential to transform Oyo State's economic landscape.
