Oyo partners FCMB on N1.5bn loan scheme for youth in agribusiness

The Oyo State Government is partnering First City Monument Bank (FCMB) to launch a N1.5 billion loan scheme, which aims at empowering trained Oyo youth in agribusiness programmes.

Olasunkanmi Olaleye, Commissioner for Agriculture, Oyo State, who disclosed this in Ibadan recently, said that the government had approved N500 million as the state’s contribution to the scheme, while FCMB would provide N1 billion totaling N1.5 billion for the loan scheme.

Olaleye said that the scheme is designed to provide financial support and bolster the agricultural sector by leveraging the skills of young entrepreneurs who have completed state-sponsored training programmes under the Oyo State Agribusiness Development Agency.

“OYSADA, which is the coordinating government agency, would roll out modalities for onward disbursement to beneficiaries in the coming days,” he added.

Speaking on the impact of the N1.5 billion loan scheme for youth in agribusiness, the Commissioner highlighted the importance of the partnership between the state and FCMB in boosting local agriculture and creating job opportunities.

On whether other independent youths in agribusiness not certified by OYSADA could also benefit from the loan scheme, he stated that only those specially trained and certified by OYSADA can access the funds.

Meanwhile, the Oyo State Agency for Socio-Economic Development (OYMASED), is set to train social mobilization agents across the 351 wards in the state.

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The social mobilisers will be sensitizing and mobilizing people at the various wards they belong to.

Morohunkola Thomas, director general of the agency, said that this will help in addressing the menace of social norms in the state.

“The 351 social mobilization agents will serve as change agents in mobilizing the people at the community for socio- economic change,” he said.

Morohunkola said that the agency will collaborate with media organisations on information dissemination to citizens of the state.

Featuring on a radio programme, in Ibadan, the director general noted that working with media institutions, media influencers, traditional and religious leaders to mobilise the populace is crucial in bringing about the attitudinal change the state is seeking for.

While stating that the functions of OYMASED is different from National Orientation Agency, he opined that the agency will be looking at the history and sociology of Oyo State, with a focus on bringing about socio-economic development and instilling core values the state is known for.

He said that in order to ensure a better future, especially with the Gen-Z, there is need to re-orientate people and instill core values of high level of integrity, productivity, integrity and perseverance.