The Oyo State Government has approved N500 million to support beneficiaries of the Youth Entrepreneurship in Agribusiness Project, YEAP.
This was announced on the state’s official X account late on Wednesday which also stated that the approval is a significant move to bolster youth entrepreneurship in the agricultural sector.
The decision was made during an Executive Council meeting presided over by the Oyo state Deputy Governor Bayo Lawal, as part of the state’s Sustainable Actions for Economic Recovery programme, SAfER programme.
The SAfER programme is an intervention implemented by the Oyo state government to ease the economic burden on the people as a consequence of fuel subsidy removal.
The N500m contribution from the state government was further augmented by an additional N1bn provided by FCMB, bringing the total support to N1.5bn.