Governor Ademola Adeleke has expanded his administration’s business empowerment scheme by making start-up grants available to 2,000 new beneficiaries including women and the young people.
The governor, who also flaunted his administration’s records in cooperative financing for small businesses during the presentation ceremony on Thursday, noted that the event is not just another ceremony but a bold testament to 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 young people who are 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’ a statement made available to Team@orientactualmags.com by Mallam Olawale Rasheed quoted the governor as saying .
Describing the scheme as a practical demonstration of his resolve to take empowerment beyond slogans, Governor Adeleke highlighted achievements 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 also 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 hardship.
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 people living with disabilities, in partnership with Project Enable Africa, while also rehabilitating and upgrading structures at the Cooperative College in Ode-Omu’ the governor added.
He noted further that the Imole Business Empowerment Scheme 1.0 marks a turning point while adding that the initiative targets 2,000 women and youths across the 30 Local Governments and the Area Office in 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 that 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’ he said.
Commissioner for Empowerment and Cooperatives Development, Prince Bayo Ogungbangbe noted that the event was not just about presentation of empowerment items to the beneficiaries but a testament to the Adeleke administration’s commitment to sustainable development, youth empowerment, women inclusion, and inclusive economic growth.
He urged the beneficiaries to use the opportunity wisely to grow their businesses diligently, and become worthy ambassadors of the noble initiative.
The event was attended by Secretary to the State Government, Hon Teslim Igbalaye; the Chief of Staff , Hon Kazeem Akinleye; Yeyeluwa Modupe Adeleke-Sanni; members of the State Executive Council and top officials of Fidelity Bank and First bank-Team@orientactualmags.com
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