Senator representing Ogun West Senatorial District and Chairman of the Senate Committee on Appropriations, Senator Solomon Olamilekan Adeola (Yayi), has reaffirmed his commitment to strengthening micro, small and medium enterprises (MSMEs) in Ogun State, unveiling another round of financial empowerment for 3,000 market women and men in Ogun Central to boost their businesses.
Speaking at the fourth edition of his Market Women/Men Support Fund Empowerment Programme for Ogun Central Senatorial District held at the Ake Pavilion, Ake Palace, Abeokuta, Senator Adeola described small businesses as the backbone of the state’s economy, stressing that supporting traders with grants would stimulate enterprise growth, create jobs and cushion the effects of prevailing economic challenges.
The lawmaker announced that each of the 3,000 beneficiaries from Ogun Central Senatorial District would receive a N75,000 grant, noting that the programme is being implemented in partnership with the National Productivity Centre as part of efforts to complement the economic objectives of President Bola Ahmed Tinubu’s Renewed Hope Agenda.
He emphasized that the intervention was a grant and not a loan, saying it was designed to provide immediate financial relief and improve the capacity of small business owners to expand their trading activities.
“Going forward in this edition that is now segmented into our three senatorial districts with Ogun Central coming up first, I am facilitating the programme of empowerment in partnership with the National Productivity Centre.
“This is a micro-financing scheme in line with the Renewed Hope Agenda of President Bola Ahmed Tinubu to boost the businesses of our market men and women.
“As usual, this is not a loan but a grant to bring succour to a critical sector of our people and thereby stimulate economic growth,” he said.
Adeola explained that the empowerment programme was a fulfilment of campaign promises he made to market women and men during the 2023 electioneering campaign, when he identified poor access to working capital as one of the major constraints facing small businesses.
He recalled that the initiative began on February 2023, when he supported 5,000 traders with grants of N25,000 each under what later became known as the “Oloja Yayi” initiative.
According to him, the second edition, held in January 2024, saw another 5,000 traders across the five local government areas of Ogun West receive N50,000 each, while the third edition, conducted on April 2025, provided N75,000 grants to another 5,000 market women and men.
He noted that the success of the programme attracted requests from traders outside Ogun West, prompting the inclusion of beneficiaries from other senatorial districts during the third edition.
The senator highlighted several infrastructure projects aimed at improving the operating environment for small businesses. These include the construction of 43 modern markets, installation of solar-powered boreholes in major markets, and provision of solar-powered streetlights to enhance security and extend trading hours.
He disclosed that additional ultra-modern markets are currently under construction at Isaga-Orile in Abeokuta North Local Government Area and Panseke in Abeokuta South Local Government Area, adding that both projects are expected to be completed within the next few months.
Adeola assured traders that the selection process for beneficiaries remained transparent and devoid of political patronage or favoritism, stressing that beneficiaries are chosen without personal affiliation to him.
He urged recipients to invest the grants strictly in their businesses to increase productivity, expand their enterprises and improve their standard of living.
The senator also pledged to sustain the empowerment initiative in the coming years, expressing confidence that the programme would continue to support entrepreneurs and contribute to economic growth across Ogun State, with similar editions planned for Ogun East and Ogun West Senatorial Districts.
