In a landmark move to foster economic independence and grassroots development, Osun State Governor, Senator Ademola Adeleke, has unveiled the Imole Business Empowerment Scheme 1.0, a transformative initiative designed to uplift more than 2,000 women and young people across the state. Launched through a collaboration between the Osun State Ministry of Cooperatives and Empowerment, First Bank Plc, and Fidelity Bank Plc, the programme represents a bold step toward equipping citizens with the tools, resources, and knowledge to thrive as entrepreneurs and contribute to the state’s economic growth.
The official launch of the Imole Business Empowerment Scheme 1.0 took place at a vibrant presentation ceremony, where Governor Adeleke outlined the initiative’s objectives and its significance in his administration’s broader vision for Osun State. He described the scheme as a practical manifestation of his government’s commitment to moving beyond mere rhetoric in empowerment efforts. Instead, the programme is rooted in tangible actions aimed at creating wealth, generating jobs, and fostering prosperity for individuals and communities across the state.
A Comprehensive Approach to Empowerment
The Imole Business Empowerment Scheme 1.0 is designed to provide a holistic support system for its beneficiaries, targeting individuals across all 30 local government areas and the area office of Osun State. Each participant in the programme receives a robust package of resources to kickstart their entrepreneurial journey. This includes a Corporate Affairs Commission (CAC) business registration certificate, a point-of-sale (POS) terminal, and a start-up grant to facilitate immediate business operations. These tools are intended to lay a strong foundation for financial self-reliance and sustainable business growth.
However, the initiative goes far beyond the distribution of material resources. Governor Adeleke emphasized that the scheme incorporates comprehensive training and capacity-building programs to ensure participants are well-equipped to manage and grow their businesses effectively. This focus on skill development reflects the administration’s understanding that empowerment is not just about providing tools but also about fostering the knowledge and expertise needed for long-term success.
The governor highlighted the deliberate focus on women and youth as the primary beneficiaries of the scheme, noting that these groups represent the most dynamic and productive segments of society. By prioritizing their inclusion, the initiative aims to harness their potential to drive economic transformation at the grassroots level. “Our vision is clear: to turn Osun into a hub of cooperative-driven development, make empowerment accessible at the grassroots, and ensure no one is left behind in our journey of shared prosperity,” Adeleke declared during the ceremony.
A Collaborative Effort for Economic Growth
The success of the Imole Business Empowerment Scheme 1.0 is underpinned by a strategic partnership between the Osun State government and two of Nigeria’s leading financial institutions, First Bank Plc and Fidelity Bank Plc. Governor Adeleke commended the banks for their commitment to supporting the initiative, describing their collaboration as a testament to his administration’s resolve to deliver measurable results rather than empty promises. This public-private partnership has enabled the programme to reach a wide range of beneficiaries and provide them with the financial tools necessary to thrive in today’s competitive economy.
The partnership with First Bank and Fidelity Bank is particularly significant in the context of the programme’s use of POS terminals. These devices are critical for small businesses, enabling them to process digital transactions and tap into the growing trend of cashless payments in Nigeria. By equipping beneficiaries with POS terminals, the initiative not only facilitates their entry into the formal economy but also aligns with broader national efforts to promote financial inclusion and digital transformation.
A Milestone in People-Centred Governance
The Commissioner for Cooperatives and Empowerment, Prince Bayo Ogungbangbe, hailed the launch of the Imole Business Empowerment Scheme 1.0 as a milestone in people-centred governance. He noted that the Ministry of Cooperatives and Empowerment has consistently championed cooperative development and grassroots empowerment as key pillars of economic progress. The collaboration with financial institutions has now expanded the scope of these efforts, creating new opportunities for local entrepreneurs to thrive.
“This development will open fresh frontiers of economic independence for small businesses,” Ogungbangbe stated. He emphasized that empowerment initiatives like this have already contributed significantly to the state’s economic growth by fostering entrepreneurship and supporting small-scale enterprises. The commissioner urged beneficiaries to use their POS machines, grants, and business certificates responsibly, positioning themselves as worthy ambassadors of the initiative and role models for others in their communities.
The commissioner also highlighted the broader impact of the scheme on Osun’s economy. By empowering individuals to start and grow their businesses, the programme is expected to stimulate local commerce, create jobs, and strengthen the economic fabric of communities across the state. This aligns with the Adeleke administration’s overarching goal of fostering inclusive growth and ensuring that the benefits of development reach all segments of society.
Unprecedented in Osun’s History
The Special Adviser to the Governor on Cooperatives and Empowerment, Hon. Durojaye Isaac, described the Imole Business Empowerment Scheme 1.0 as an unprecedented initiative in Osun’s history. He emphasized that the programme is a game-changer in the fight against poverty, as it provides tangible support to individuals who might otherwise lack access to the resources needed to start or grow a business.
“This scheme will reduce poverty, expand small businesses, and strengthen household income across the state,” Durojaye said. He noted that the initiative is carefully designed to provide lasting relief from the economic challenges facing many residents of Osun State, particularly in the wake of global and national economic pressures. By equipping beneficiaries with the tools and knowledge to succeed, the programme aims to create a ripple effect of prosperity that benefits not only the participants but also their families and communities.
Durojaye called on beneficiaries to make judicious use of the support they have received, stressing that the resources provided are not merely handouts but investments in their future. He encouraged participants to approach their businesses with diligence and innovation, leveraging the training and resources provided to build sustainable enterprises that can withstand economic challenges.
Empowering Women and Youth for a Brighter Future
The focus on women and youth in the Imole Business Empowerment Scheme 1.0 reflects a strategic recognition of their critical role in driving economic and social progress. Women, who often face systemic barriers to economic participation, stand to benefit significantly from the programme’s resources and training. By providing them with the tools to start their own businesses, the initiative empowers them to achieve financial independence and contribute to their households’ economic stability.
Similarly, young people, who represent the future of Osun State, are a key focus of the programme. With Nigeria’s youth population facing high rates of unemployment and underemployment, initiatives like this provide a vital lifeline for young entrepreneurs looking to carve out a place for themselves in the economy. The provision of CAC registration certificates ensures that their businesses are formalized, giving them access to opportunities such as loans, grants, and partnerships that are often reserved for registered enterprises.
The training component of the scheme is particularly important for young beneficiaries, many of whom may lack prior experience in business management. By offering workshops and capacity-building sessions, the programme equips them with the skills needed to navigate the complexities of entrepreneurship, from financial management to marketing and customer service.
A Model for Cooperative-Driven Development
Governor Adeleke’s vision of turning Osun into a hub of cooperative-driven development is a central theme of the Imole Business Empowerment Scheme 1.0. Cooperatives have long been recognized as a powerful tool for economic empowerment, enabling individuals to pool their resources and work together to achieve common goals. By integrating cooperative principles into the programme, the Adeleke administration is fostering a culture of collaboration and mutual support among beneficiaries.
This cooperative-driven approach is particularly relevant in the context of Osun’s diverse and predominantly rural population. Many of the state’s residents rely on small-scale farming, trading, and artisanal work for their livelihoods. By providing them with the tools to formalize and scale their businesses, the programme enables them to access new markets, increase their income, and contribute to the state’s economic growth.
The emphasis on grassroots empowerment also reflects the administration’s commitment to ensuring that no one is left behind. By targeting beneficiaries across all 30 local government areas and the area office, the programme ensures that even those in remote or underserved communities have access to its benefits. This inclusive approach is a hallmark of the Adeleke administration’s governance philosophy, which prioritizes equity and opportunity for all.
A Call to Action for Beneficiaries
Both the commissioner and the special adviser underscored the importance of responsibility and accountability among beneficiaries. The resources provided through the Imole Business Empowerment Scheme 1.0 represent a significant investment by the state government and its partners, and participants are expected to use them wisely. By doing so, they can maximize the impact of the programme and serve as role models for others in their communities.
Beneficiaries are encouraged to leverage the training they receive to develop innovative business ideas and strategies. The POS terminals, in particular, offer a unique opportunity to tap into the growing digital economy, enabling small businesses to accept card payments and expand their customer base. The start-up grants, meanwhile, provide a crucial injection of capital that can be used to purchase inventory, invest in marketing, or cover other essential expenses.
Looking Ahead: A Blueprint for Sustainable Development
The launch of the Imole Business Empowerment Scheme 1.0 marks a significant step forward in Osun State’s journey toward sustainable development. By empowering women and youth, fostering cooperative-driven growth, and partnering with financial institutions, the Adeleke administration is laying the foundation for a more inclusive and prosperous economy.
As the programme continues to roll out, its impact is expected to grow, creating new opportunities for thousands of residents and strengthening the state’s economic resilience. The success of the initiative will depend not only on the government’s commitment but also on the dedication of its beneficiaries, who have been given the tools to transform their lives and communities.
In the words of Governor Adeleke, the Imole Business Empowerment Scheme 1.0 is about more than just distributing resources—it is about building a future where every citizen of Osun State has the opportunity to thrive. As the programme gains momentum, it stands as a powerful example of what can be achieved when government, private sector partners, and communities work together toward a shared vision of progress and prosperity.
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