Governor Ademola Adeleke has expanded Osun State's start-up grant programme to 2,000 new beneficiaries, focusing on women and youth across the state.
Speaking at the launch of the Imole Business Empowerment Scheme 1.0, the governor described the initiative as a turning point in his administration's drive to promote entrepreneurship and financial independence.
The governor highlighted his government's strides in cooperative financing, stressing that the empowerment scheme goes beyond ceremonies. He recalled the state's first Cooperative Summit in January 2024, where a ₦1 billion revolving loan was launched and later increased to ₦3.45 billion.
To date, ₦1.6 billion has been disbursed, benefiting over 20,000 households through ward-based initiatives and 10,233 individuals through cooperative societies under FOSCOOP.
Beyond loans, Adeleke disclosed that support had also extended to Osun indigenes outside the state, with ₦50 million disbursed to beneficiaries in Abuja and Northern Nigeria.
Other interventions include a ₦250 million MSMEDF disbursement in 2024, a food bank initiative reaching over 3,000 residents, and plans to upgrade the Isiaka Adetunji Adeleke College of Cooperative Studies into a Uniosun campus. He added that persons with disabilities were also supported in partnership with Project Enable Africa.
Under the new empowerment scheme, each beneficiary will receive a CAC business registration certificate, POS terminal, and a start-up grant.
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Adeleke stressed that the programme is not just about funds but about building sustainable businesses through training, skills, and capacity development. He maintained that by investing in women and youth, his government is empowering the state's most productive segment to drive inclusive growth.
Commissioner for Empowerment and Cooperatives Development, Prince Bayo Ogungbangbe, described the event as a testimony of the administration's dedication to youth empowerment, women's inclusion, and sustainable development.
He urged beneficiaries to use the opportunity to expand their businesses and serve as ambassadors of the programme. The event was attended by top government officials, members of the Adeleke family, and representatives of Fidelity Bank and First Bank.
