By John Dike, Osogbo
In a significant move to deepen grassroots economic empowerment, the Osun State Government has launched the Imole Business Empowerment Scheme 1.0, targeting 2,000 women and youths across all 30 local government areas and the area office.
The initiative, officially unveiled today at the Staff Development Centre, Abere, marks a major milestone in Governor Senator Dr. Ademola Adeleke’s administration’s commitment to people-centered governance and inclusive development.
Speaking at the presentation ceremony, Governor Adeleke described the program as a “turning point” in Osun’s journey towards sustainable prosperity, emphasizing his administration’s resolve to provide practical tools for wealth creation.
“Today’s event is not just another ceremony; it is a bold statement of our commitment to people-centered governance. We are empowering our people with real tools – not just promises,” the Governor said.
Under the scheme, each beneficiary will receive:a CAC Business Registration Certificate, Point-of-Sale (POS) Terminal and A Start-Up Grant.
The program is implemented by the Ministry of Cooperatives and Empowerment, in partnership with First Bank Plc and Fidelity Bank Plc.
Adeleke highlighted the accomplishments of the Ministry of Cooperatives and Empowerment, established in July 2023 as the first of its kind in Nigeria. Within just over a year, the ministry has achieved the following:
₦1.6 billion disbursed in interest-free loans through the Cooperative Revolving Loan Scheme
Over 20,000 households impacted through Ward-Based Cooperative Initiatives across 389 wards
₦800 million disbursed through conventional cooperative unions under FOSCOOP, reaching over 10,000 individual cooperators
₦50 million extended to Osun indigenes in Abuja and Northern Nigeria
In January 2024, Osun hosted its first-ever Cooperative Summit, where the Governor initially announced a ₦1 billion cooperative fund—later expanded to ₦3.45 billion in response to growing demand.
In May 2025, over 3,000 residents benefited from a Food Bank Initiative organized in collaboration with Fidelity Bank, while plans for sustainable capacity building continue.
Th governor also revealed that the Senator Isiaka Adetunji Adeleke College of Cooperative Studies in Ode-Omu has now been upgraded to a UNIOSUN campus, set to begin academic activities in September 2025 with new programmes in Taxation, Transport Management, and Development Studies
He emphasized that the Imole Business Empowerment Scheme is not a handout, but rather an investment in the entrepreneurial potential of Osun’s most productive population—women and youth.
“We are not just giving out POS machines and certificates. We are building the future of Osun. We are equipping our people to thrive and lead,” he stated.
He urged all beneficiaries to use the opportunity responsibly, grow their businesses, and become agents of change in their communities.
Adeleke also commended First Bank and Fidelity Bank for their support and praised Hon. Prince Bayo Ogungbangbe, the Commissioner for Cooperatives and Empowerment, for his visionary leadership.
“Let today be a reminder that our administration does not make empty promises. We deliver. We empower. We transform lives,” the Governor declared.
He reaffirmed the government’s vision to make Osun a hub of cooperative-driven development, ensuring no citizen is left behind in the quest for shared prosperity
The event was attended by top government officials, traditional rulers, community leaders, bank executives, and hundreds of excited beneficiaries.
In his remarks, Commissioner Prince Bayo Ogungbangbe noted that the initiative, facilitated in partnership with First Bank and Fidelity Bank, is aimed at promoting entrepreneurship and financial inclusion across the state.
He praised the Governor’s people-first leadership and highlighted the Ministry’s ongoing support for persons with disabilities, cooperative societies, and the informal business sector.
Beneficiaries were urged to use the tools wisely and become job creators within their communities.
The Imole Business Empowerment Scheme stands as another bold step in Osun’s journey towards inclusive growth, sustainable development, and economic independence for all.
