Governor Ademola Adeleke of Osun State has expanded the administration’s start-up grant programme with 2000 new beneficiaries inclusive of women and youth.
The Governor who also flaunted his government records in cooperative financing for small businesses said the event is not just another ceremony; it is a bold statement of his commitment to people-centered governance and inclusive development.
“We are gathered here for the presentation of Business Registration Certificates, Point-of-Sale Terminals (POS), and Start-Up Grants to 2,000 women and youth beneficiaries of the Imole Business Empowerment Scheme 1.0, organized by the Ministry of Cooperatives and Empowerment in partnership with First Bank Plc and Fidelity Bank Plc”, the Governor declared.
Describing the scheme as a practical demonstration of resolve to take empowerment beyond slogans, Governor Adeleke highlighted advances already recorded by his administration in all sectors.
“In January 2024, Osun State held its First Cooperative Summit and Awards, the first of its kind in the history of our state. It was at that maiden Summit that I announced a ₦1 Billion Cooperative Revolving Loan, which, in response to the growing needs of our people, was later reviewed upward to ₦3.450 Billion. Out of this, ₦1.6 Billion Naira has already been released to beneficiaries across the state.
“Through the Cooperative Revolving Disbursement Programme, we have implemented two phases. Ward-Based Cooperatives Initiatives, expanded from 332 to 401 wards, with 389 wards fully benefitting. So far, ₦736,050,000 interest-free loans have been disbursed at the grassroots level, directly impacting over 20,000 households.
“Conventional Cooperative Unions and Societies under the umbrella of FOSCOOP received ₦800,000,000, reaching over 250 cooperative unions and societies, with 10,233 individual cooperators benefitting.
“We extended our reach to Osun indigenes outside the state, disbursing ₦50,000,000 to beneficiaries in Abuja and Northern Nigeria.
“Together, these interventions bring our total Cooperative Revolving Loan Disbursement to ₦1,586,000,000.00.
“In September 2024, we flagged off the New Working Capital of the MSMEDF Programme, laying the foundation for the Ultra-Modern Office Complex of Osun Micro Credit Agency, and disbursed ₦250 million MSMEDF cheques to prospective loan applicants.
“In May 2025, the Ministry, in collaboration with Fidelity Bank, organized a Food Bank Initiative where over 3,000 residents received free foodstuffs to cushion the hardship of the times.
“We are also upgrading the Sen. Isiaka Adetunji Adeleke College of Cooperative Studies, Ode-Omu, to become a Uniosun campus for cooperative and management studies, starting academic activities in September 2025 with approved programmes in Taxation, Transport Management, Development Studies, and others.
“Our administration has empowered persons living with disabilities, in partnership with Project Enable Africa, while also rehabilitating and upgrading structures at the Cooperative College in Ode-Omu”, the Governor posited.
He noted further that the Imole Business Empowerment Scheme 1.0 marks a turning point. This initiative is targeted at 2,000 women and youths across the 30 Local Governments and the Area Office of Osun State.
“Each beneficiary will walk away today with: CAC Business Registration Certificate; POS Terminal, and a Start-Up Grant, to immediately begin their journey into entrepreneurship and financial independence.
“Beyond the handover of tools and funds, this scheme is built on capacity building and training, so our beneficiaries can grow and expand their businesses sustainably. This initiative is not just about today; it is about building the future of Osun State.
“It is about equipping our people with the skills, opportunities, and support to thrive. By focusing on women and youth, we are investing in the most productive segment of our society”, the Governor explained.
Welcoming the governor and the team, the Commissioner for Empowerment and Cooperatives Development, Prince Bayo Ogungbangbe noted that the event is not just a presentation of empowerment items, but a testimony of this administration’s commitment to sustainable development, youth empowerment, women’s inclusion, and inclusive economic growth.
He charged beneficiaries to use these opportunities wisely to grow their businesses diligently, and become worthy ambassadors of this noble initiative.
The event was attended by the Secretary to the State Government, Hon Teslim Igbalaye; the Chief of Staff to the Governor, Hon Kazeem Akinleye; Yeyeluwa Modupe Adeleke-Sanni; members of the State Executive Council and top officials of Fidelity Bank and First bank.
