The Oyo State Government has announced plans to begin the disbursement of loans to young farmers across the state as part of efforts to strengthen agribusiness and promote youth participation in agriculture.
The Director-General of the Oyo State Agribusiness Development Agency, Debo Akande, disclosed this during a press conference held in Ibadan. He stated that the initiative, scheduled to commence next week, is designed to create practical opportunities for young people in agriculture, a sector identified as vital for economic growth and job creation.
Akande explained that the programme is being implemented in collaboration with the Agricultural Credit Corporation of Oyo State as part of the government’s broader food security strategy. He noted that the state had previously disbursed ₦1 billion in agricultural support loans to farmers across its geopolitical zones under the Sustainable Action for Economic Recovery programme in 2023.
According to him, the current initiative places strong emphasis on youth engagement under the Youth Entrepreneurship in Agriculture Programme. He revealed that selected beneficiaries are undergoing training at the Centre for Skills and Services in Nasarawa State, where they are being equipped with modern agribusiness skills.
He added that more than 60 youths have already participated in the programme, with support from advisory teams drawn from partner organisations. The agency, he said, has previously empowered hundreds of young people through similar initiatives by providing training, materials, and access to finance to establish agribusiness ventures across rural, suburban, and urban communities.
Akande further noted that beneficiaries were selected based on their commitment and readiness to scale their agribusiness operations. He commended the administration of Seyi Makinde for its continued investment in the agricultural sector, stressing that sustained youth involvement remains key to improving food security, generating employment, and driving economic development in the state.
The announcement was made in the presence of key stakeholders in the agriculture and financial sectors, including representatives of partner institutions and government officials.
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