Oyo Govt. partners FCMB on N1.5bn scheme for youth entrepreneurs

The Oyo State Government has partnered the First City Monument Bank (FCMB) on a N1.5 billion loan scheme for youth entrepreneurs in agribusiness.

The state’s  Commissioner for Agriculture, Mr Olasunkanmi Olaleye, disclosed this  while briefing journalists on the outcome of the weekly State Executive Council meeting on Wednesday in Ibadan.

Olaleye said the council had approved N500 million  as the state’s  contribution to the scheme.

According to him, FCMB will contribute N1 billion to the loan scheme.

He said the scheme would be under the supervision of the Oyo State Agribusiness Development Agency(OYSADA) and that the agency would certify interested youth entrepreneurs, who are into agribusiness, to benefit from the facility.

The Commissioner, however, said OYSADA would soon intimate the general public on the procedures and modalities involved in accessing the facility.