The ₦500 million Micro Business Support Initiative aimed at empowering small-scale entrepreneurs has officially commenced in Ibadan, with the January edition held at Esho Events Center, Old Ife Road.
The initiative, designed to strengthen grassroots economic growth, targets 5,000 micro business owners, each to receive ₦100,000 in direct financial support. At the flag-off ceremony, a total of ₦50 million was disbursed to 500 beneficiaries, marking the first phase of the programme. The scheme will be implemented monthly until the full ₦500 million allocation is exhausted.
Speaking at the event, organisers said the programme is part of broader efforts to support micro businesses and promote economic stability within local communities. The intervention is expected to boost productivity, expand small enterprises, and improve livelihoods across Egbeda and Ona-Ara federal constituency.
The launch attracted several political leaders and party stakeholders, including Hon. Joshua Oyebamiji, PhD, Chairman of APC Oyo Central Senatorial District; Hon. Olawale Olaleye, APC Chairman in Egbeda Local Government; Prince Kolawole Ogundipe, APC Chairman in Ona-Ara Local Government; Alhaji Yinka Folarin, APC leader in Ona-Ara Local Government; and Hon. Olawale Sadare, Oyo State APC Public Relations Officer.
Also present were Hon. Bola Fawole, former Majority Leader of the Oyo State House of Assembly; Hon. Ismaila Akanni Ere, former Chairman of Ona-Ara Local Government; Alhaji Sule Suara Elegbeda, APC leader in Egbeda Local Government; Hon. Biliaminu Ogundele, APC leader in Egbeda; and Hon. Ibrahim Bolomope, former member of the Oyo State House of Assembly, alongside other notable leaders from the Egbeda/Ona-Ara Federal Constituency.
The initiative was described as a complement to ongoing infrastructural development efforts, reflecting a commitment to inclusive economic growth through targeted support for micro businesses and hardworking individuals at the grassroots.
The programme is sponsored by Hon. Akin Alabi, representing Egbeda/Ona-Ara Federal Constituency, who reaffirmed his commitment to empowering constituents and strengthening local economies.
