Oyo State to Begin Loan Disbursement to Young Farmers Next Week

The Oyo State Government, through the State Agribusiness Development Agency (OYSADA), has announced plans to begin disbursing loans to young farmers across the state starting next week.

The Director-General of OYSADA, Debo Akande, disclosed this on Wednesday during a press conference in Ibadan, the state capital. He stated that the initiative is designed to empower the youth population by encouraging their participation in agriculture, with the broader goal of boosting the sector and driving economic growth.

Akande explained that the programme, themed Youth Entrepreneurship in Agriculture, focuses on introducing young people to practical opportunities in agribusiness, which the agency considers vital for job creation and economic development.

According to him, training for selected participants has already commenced at the Centre for Skills and Services in Nasarawa State, where beneficiaries are being equipped with modern agribusiness practices. More than 60 youths have so far taken part in the training, with support from advisory staff drawn from partner organisations.

Akande noted that beneficiaries were carefully chosen based on their demonstrated commitment and readiness to grow their agribusiness ventures.

He further highlighted that OYSADA has previously empowered hundreds of youths through similar initiatives, providing materials, training, and loans to help them establish agribusiness enterprises in rural, suburban, and urban communities.

In addition, the state government has partnered with financial institutions to support youth-led agribusinesses, including funding for thousands of trained youths under various empowerment schemes.

Akande commended Governor Seyi Makinde for his sustained investment in agribusiness, stressing that engaging young people in agriculture is essential for enhancing food security, creating employment, and driving economic transformation.

The event was attended by agricultural stakeholders and partners, including a representative of First City Monument Bank, Friday Nwokolo; OYSADA’s Permanent Secretary, Kola Badmus; and other key players in the agriculture sector.