Makinde Launches N1.5bn YEAP-SAfER Fund, Approves N10,000 Transport Support for Workers

Oyo State Governor, Seyi Makinde, on Monday began 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), reinforcing his administration’s focus on youth empowerment and economic growth through agriculture.

The launch event took place at the Oyo State Agribusiness Transformation Centre in Fasola, marking a key step in efforts to expand agribusiness opportunities and create jobs for young people across the state.

Each beneficiary of the scheme, selected from trainees of CSS Integrated Farms in Gora, Nasarawa State, will receive N1.5 million to support and grow their agricultural businesses. The initiative is being implemented in collaboration with First City Monument Bank and the Mastercard Foundation.

Speaking at the ceremony, Makinde said the programme reflects a long-term strategy aimed at building a sustainable economy, with youth empowerment at its core. He stressed that the initiative goes beyond financial assistance, describing it as part of a broader system designed to promote productivity, entrepreneurship and lasting economic development.

“This is not just about disbursing funds; it is about strengthening a system. Sustainable development requires deliberate, structured and consistent efforts over time,” he said.

The governor noted that since its launch in 2021, the YEAP initiative has made significant impact by equipping young people with modern agricultural skills and exposing them to global best practices.

He highlighted education, entrepreneurship and productivity as key drivers of economic prosperity, adding that his administration’s development plans are built around these pillars. According to him, Oyo State has recorded progress in sectors such as agribusiness and infrastructure, improving its appeal to investors.

Makinde also stated that while his government has laid a strong foundation, it remains committed to ensuring continuity of key projects, including the YEAP programme and major infrastructure like the 110-kilometre Circular Road.

In a related announcement, the governor approved a N10,000 monthly transport allowance for civil and public servants, including local government workers. He explained that the measure is intended to ease the burden of rising transportation costs.

He advised beneficiaries of the YEAP-SAfER scheme to make prudent use of the funds, noting that although the support is provided without collateral, it requires discipline and accountability.

Makinde further acknowledged the contributions of development partners, revealing that the N1.5 billion fund consists of N500 million from the state government and N1 billion from its partners.

Earlier, the Director-General of the Oyo State Agribusiness Development Agency, Dr Debo Akande, described the programme as a shift from temporary interventions to a more structured approach aimed at building sustainable agribusinesses. He added that over 50,000 youths have been trained in agribusiness in the past five years, with many establishing successful ventures.

Representatives of partner organisations also praised the initiative, calling it a strong model for inclusive growth and youth-driven economic development.

The event drew top government officials, stakeholders in the agricultural sector and youth representatives, reflecting widespread support for the programme.