Oyo Govt. Reaffirms Commitment To Youth Driven Economic Growth

The Oyo State Government has reaffirmed its commitment to youth empowerment, entrepreneurship development and the promotion of local production as a driver of economic growth, disclosing that the Graduate Industrial Self-Employment Scheme (GISES) will commence within the next two weeks.

The disclosure was made through the Commissioner for Investment, Trade, Cooperatives and Industry, Honourable Adeniyi Adebisi, while speaking as Special Guest of Honour at the opening ceremony of the Genspark 2026 Entrepreneurs’ Empowerment Summit and Ibadan Business Exhibition held at the Indoor Games Hall, Liberty Stadium, Oke-Ado, Ibadan.

Hon. Adebisi explained that GISES is a structured revolving loan scheme designed to provide seed capital for unemployed graduates to establish small-scale industrial ventures.

He said that the initiative includes an entrepreneurship development component to equip beneficiaries with practical skills in business identification, management and feasibility analysis, ensuring sustainability.

He noted that the theme of the summit, “Local Production as a Backbone for Thriving Economies; Get Involved,” aligns with the vision of the present administration led by Governor Seyi Makinde, which prioritises job creation, youth engagement, and sustainable economic development.

He emphasised that the State Government remains deliberate in its efforts to reduce unemployment through strategic initiatives such as skills acquisition programmes, vocational training, and support for Micro, Small and Medium Enterprises (MSMEs).

He added that empowering young people with market-relevant skills in areas such as manufacturing, agribusiness, and innovation would not only enhance productivity but also position them as drivers of economic transformation.

The Commissioner highlighted ongoing collaborations between the Ministry and relevant agencies, including the Nigerian Export Promotion Council (NEPC), to train farmers and exporters, as well as government-backed initiatives designed to support emerging entrepreneurs.

He further encouraged participants to leverage these opportunities to build viable businesses and contribute meaningfully to the State’s economy

Speaking also, Chairman of the opening ceremony, Otunba Oyedapo Idowu Richard, underscored the role of the private sector in economic growth, noting that initiatives like Genspark provide opportunities for networking, investment and business expansion.

In her contribution, the Oyo State Manager of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Mrs. Iyabo Ojogbede, reiterated the agency’s commitment to supporting small businesses through capacity building, access to finance and policy support.

Earlier In his welcome address, the Convener, Pharm. Abiodun Ajibade, said the summit was designed to bridge gaps in entrepreneurial knowledge and provide mentorship, business insights and networking opportunities for participants.