In a significant move to bolster grassroots economic development, the Honourable Minister of Power, Adebayo Adelabu, has disbursed ₦100 million in business support grants to traders, artisans, and farmers across Oyo State. The initiative, part of the 2025 Mega Empowerment and Economic Relief Programme Series, was unveiled at a well-attended ceremony held at the Bayo Adelabu Foundation House in Ibadan.
The empowerment programme is designed to provide financial relief and stimulate economic activity among small business owners and self-employed individuals, particularly in the informal sector. The grants aim to support micro-enterprises, enhance productivity, and reduce poverty in the region.
Speaking at the event, Minister Adelabu emphasized the importance of empowering local entrepreneurs as a cornerstone of national economic growth. “Our traders, artisans, and farmers are the backbone of our economy. By investing in them, we are investing in the future of Oyo State and Nigeria as a whole,” he stated.
The beneficiaries, drawn from various local government areas within the state, received direct financial support to expand their businesses, purchase tools, and improve their services. The selection process was reportedly transparent and inclusive, ensuring that the grants reached those most in need.
The Minister also reiterated the federal government’s commitment to grassroots development and highlighted the role of public-private partnerships in driving sustainable economic progress. He called on other stakeholders to join hands in supporting initiatives that uplift underserved communities.
The event was attended by community leaders, representatives of trade associations, and government officials, all of whom praised the initiative as timely and impactful. Many beneficiaries expressed gratitude, noting that the grants would help them scale their businesses and improve their livelihoods.