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

Oyo State Governor, Seyi Makinde, on Monday launched 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), reaffirming his administration’s commitment to youth empowerment and economic growth through agriculture.

The launch event, held at the Oyo State Agribusiness Transformation Centre in Fasola, marked a major step in the state’s drive to promote agricultural entrepreneurship and create jobs for young people.

Each beneficiary, selected from trainees at CSS Integrated Farms in Gora, Nasarawa State, will receive N1.5 million to expand their agribusiness ventures. The programme is being implemented in partnership with First City Monument Bank and the Mastercard Foundation.

Speaking at the ceremony, Makinde said the initiative goes beyond financial support, describing it as part of a broader strategy to build a sustainable economic system driven by productivity and innovation.

“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 the YEAP initiative, launched in 2021, has already made significant impact by equipping youths with modern agricultural skills and exposing them to best practices.

He identified education, entrepreneurship and productivity as key pillars for economic prosperity, adding that his administration’s policies are built around these principles. According to him, Oyo State has recorded steady progress in sectors such as agribusiness and infrastructure, enhancing its appeal to investors.

Makinde also stated that while his administration has laid a solid foundation, it remains focused on ensuring continuity of key initiatives like YEAP, as well as completing major infrastructure projects, including the 110-kilometre Circular Road.

In a related announcement, the governor approved a N10,000 monthly transport allowance for civil and public servants across the state, including local government workers. He said the measure is aimed at easing the burden of rising transportation costs.

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

He also acknowledged the contributions of development partners, revealing that the N1.5 billion fund includes N500 million from the state government and N1 billion from partner organisations.

Earlier, the Director-General of the Oyo State Agribusiness Development Agency, Dr Debo Akande, said the initiative reflects a shift from short-term interventions to a structured approach focused on building sustainable agribusiness enterprises.

He disclosed that more than 50,000 youths have been trained in agribusiness across the state over the past five years, with many successfully growing their ventures.

Representatives of partner organisations commended the programme, describing it as a strong model for inclusive growth and youth-driven economic development.

The event was attended by government officials, agricultural stakeholders and youth representatives, highlighting widespread support for the initiative.