• News - South West - Oyo
  • Updated: January 19, 2023

Entrepreneurial Development: Oyo Commences Training Of 400 Applicants

The Oyo State government has revealed that it has trained over 400 applicants under the Graduate Industrial Self Employment Loan Scheme (GISES)on Entrepreneurial Development Programme (EDP).

The training which took place on Wednesday was aimed at developing the capacity of the applicants in relation to required skills and knowledge with a focus on the areas of feasibility study writing and Small scale industry management.

According to Wasiu Olatubosun, Commissioner for Information, Culture and Tourism in a statement on Thursday, the training is in line with the best global practices.

It is also aimed at guiding the applicants for the loan scheme and their business plans as the Oyo State government will empower qualified applicants with a Five hundred thousand naira loan (N500,000)

Declaring the training open, the Honourable Commissioner for Trade, Industry, Investment and Cooperatives, Bayo Lawal stated that the Entrepreneurial Development Programme is to create a congenial environment for the youths in other to contribute their quota in revamping the economy through diversification by concentrating on non-oil sector, thereby adding value to natural products through industrialization.

Lawal who was represented by the Permanent Secretary of the Ministry, Dr 'Bunmi Babalola lauded the magnanimity of the state governor, Seyi Makinde in his determination to reposition Oyo State by reviewing the industrial policy of the state to facilitate the development of entrepreneurial skills among the youth; self-employment; encourage effective utilization of the state's natural resources and also ensure general improvement through conservation of foreign exchange earnings.

He also applauded the governor for approving a special fund to assist youths in the manufacturing and service sectors among others.

Lawal noted that the Graduate Loan Scheme which has not been in operation for many years is undoubtedly one of the veritable tools for solving unemployment which has become endemic in the country.

He admonished them to make judicious use of the loan by investing in areas where they have comparative advantage and competency as would be reflected in their business plans, adding that, they should not see the loan as a largesse that will go down the drain.

Earlier in her welcome address, the Director of Industry, Engr (Mrs) Mojeedat Olanrewaju said unemployment is one of the causes of the pervasive insecurity in the country.

She noted that globally, Nano, Micro, Small and Medium Entrepreneurs (nMSMEs) serve as vehicles of employment creation, self-employment, improved internally generated revenue and crime reduction, and also instruments of youth employment in both rural and urban areas.

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Francis Ezediuno
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