Over 2,000 women, youths benefit from Osun business empowerment scheme
By Jeleel Olawale
More than 2,000 women and young people have benefitted from a new business empowerment initiative introduced by Osun State governor, Senator Ademola Adeleke.
The programme, known as Imole Business Empowerment Scheme 1.0, was launched by the Ministry of Cooperatives and Empowerment in collaboration with First Bank Plc and Fidelity Bank Plc.
Speaking at the presentation ceremony, Governor Adeleke described the scheme as a practical expression of his administration’s commitment to taking empowerment beyond rhetoric, by equipping citizens with tools to create wealth, jobs, and prosperity.
He explained that the initiative targets beneficiaries across the 30 local government areas and the area office of Osun State, noting that each participant would receive a Corporate Affairs Commission (CAC) business registration certificate, a point-of-sale (POS) terminal, and a start-up grant to immediately begin their journey into entrepreneurship and financial self-reliance.
According to him, the empowerment plan goes beyond the distribution of tools and funds, as it also integrates training and capacity building designed to help participants expand their businesses sustainably. He stressed that the focus on women and youth was deliberate, as they represent the most productive segment of society.
“Our vision is clear: to turn Osun into a hub of cooperative-driven development, make empowerment accessible at the grassroots, and ensure no one is left behind in our journey of shared prosperity,” Adeleke said. He praised First Bank and Fidelity Bank for their collaboration, describing the event as proof of his government’s resolve to deliver results rather than promises.
Commissioner for Cooperatives and Empowerment, Prince Bayo Ogungbangbe, hailed the official rollout as a milestone in people-centred governance. He explained that the ministry has consistently promoted cooperative development and grassroots empowerment, and the partnership with financial institutions had now created new opportunities for local entrepreneurs.
“This development will open fresh frontiers of economic independence for small businesses,” he said, adding that empowerment initiatives like this have significantly boosted the state’s economic growth. He appealed to beneficiaries to use their POS machines, grants, and business certificates responsibly, thereby becoming worthy ambassadors of the initiative.
Similarly, the Special Adviser to the Governor on Cooperatives and Empowerment, Hon. Durojaye Isaac, said the programme was unprecedented in Osun’s history. He maintained that the scheme would reduce poverty, expand small businesses, and strengthen household income across the state.
He called on beneficiaries to make judicious use of the support they had received, stressing that the initiative was designed to provide lasting relief from prevailing economic challenges.