Governor Ademola Adeleke of Osun State has announced the expansion of the administration’s start-up grant program, providing support to an additional 2,000 young people and women.
The initiative, named the “Imole Business Empowerment Scheme 1.0,” provides beneficiaries with a Business Registration Certificate, a Point-of-Sale (POS) terminal, and a start-up grant to help them launch their entrepreneurial ventures.
Speaking at the grant presentation yesterday, Adeleke described the scheme as a demonstration of his government’s commitment to people-centred governance and inclusive development.
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The programme is a collaboration between the Ministry of Cooperatives and Empowerment, First Bank Plc, and Fidelity Bank Plc.
During the event, Adeleke highlighted the government’s track record in cooperative financing for small businesses, citing several key achievements.
He noted that in January 2024, the state held its first Cooperative Summit, where he announced a ₦1 billion cooperative revolving loan. This amount was later increased to ₦3.45 billion, with ₦1.6 billion already disbursed.
The governor provided a detailed breakdown of the cooperative loan disbursements.
He explained that ₦736.05 million in interest-free loans had been given to more than 20,000 households across 389 wards through ward-based cooperatives.
In addition, ₦800 million was distributed to 250 conventional cooperative unions and societies, reaching 10,233 beneficiaries.
He further disclosed that ₦50 million was allocated to Osun indigenes residing outside the state, particularly in Abuja and Northern Nigeria.
Altogether, these interventions brought the total cooperative revolving loan disbursement to ₦1.586 billion.
Adeleke also mentioned other empowerment initiatives, including the flag-off of the MSMEDF Programme in September 2024, which disbursed ₦250 million to loan applicants, and a Food Bank Initiative in May 2025 in collaboration with Fidelity Bank, which provided free foodstuffs to over 3,000 residents.
He said his administration is also focused on educational and infrastructural development.
Adeleke added that the Senator Isiaka Adetunji Adeleke College of Cooperative Studies in Ode-Omu is being upgraded to a campus of Uniosun, with academic activities scheduled to begin in September 2025.
Additionally, he said the government has empowered persons with disabilities in partnership with Project Enable Africa and rehabilitated structures at the Ode-Omu Cooperative College.
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The governor emphasised that the Imole Business Empowerment Scheme is designed to equip beneficiaries with the skills and opportunities to thrive, with a focus on training and capacity building for sustainable business growth.
The Commissioner for Empowerment and Cooperatives Development, Bayo Ogungbangbe, urged the beneficiaries to use the opportunity wisely to grow their businesses and become ambassadors of the initiative.
