Senator representing Ogun West Senatorial District, Solomon Adeola, popularly known as Yayi, on Thursday said his market empowerment initiative was designed to complement the economic reforms of President Bola Tinubu by boosting small businesses and cushioning the impact of economic hardship on traders across Ogun State.
Adeola stated this during the 5th edition of the Market Women/Men Support Fund Empowerment Programme held at the Ojude Oba Pavilion, Awujale Palace, Ijebu Ode.
The programme was dedicated to traders from Ogun East Senatorial District, where 3,000 market men and women received grants of N75,000 each.
Addressing the gathering, the senator said the empowerment scheme was a continuation of promises he made during his 2023 electioneering campaign to support traders struggling with poor cash flow and limited access to capital.
He noted that the initiative, which began in Ogun West, had now been expanded to cover all senatorial districts of Ogun State.
According to him, the latest edition was being implemented in partnership with the National Productivity Centre as a micro-financing intervention aligned with the Federal Government’s Renewed Hope Agenda.
He emphasized that the support was a grant and not a loan, stressing that beneficiaries would not be required to repay the money.
Adeola recalled that the programme started on February 6, 2023, when he empowered 5,000 traders with N25,000 each on two occasions.
He said the intervention was conceived after observing the economic challenges confronting market women and men, especially in sustaining and expanding their businesses during the downturn experienced at the time.
The senator explained that subsequent editions of the programme saw increased support, including a third edition in January 2024 where another 5,000 traders received N50,000 each, and a fourth edition in April 2025 during which 5,000 beneficiaries were given N75,000 each.
He said the initiative had become popularly known as “Oloja Yayi” among traders across the state.
He assured traders who were not included in the current phase that they would benefit in future editions, adding that the empowerment programme would become a major component of his administration if elected governor in 2027.
“My vision is to further complement the economic reforms of Mr. President and support the efforts of Governor Dapo Abiodun in propelling our economy toward steady and sustainable growth,” he said.
Adeola highlighted several infrastructure projects facilitated for markets across Ogun State.
He disclosed that he had facilitated the construction of 43 modern markets and related facilities in the last three and a half years, including ultra-modern markets in Abigi, Mobalufon Trailer Park in Odogbolu, and Ogijo in Sagamu, as well as solar-powered boreholes and streetlights in major markets across Ogun East.
The lawmaker maintained that beneficiaries of his empowerment programmes were selected without favoritism or political consideration.
He urged traders to invest the grants in their businesses rather than diverting the funds to unrelated purposes, saying prudent use of the money would increase profits and improve their standard of living.
Adeola concluded by reaffirming his commitment to sustaining the programme beyond 2027, expressing confidence that continued support for market women and men would strengthen micro and small enterprises, stimulate local economic activities, and contribute meaningfully to Ogun State’s economic development.
