Ondo govt grants N60m to 20 young entrepreneurs, shares tricycles to farmers

.to build two new technical colleges to promote skill acquisition

.increases grants to young entrepreneurs from N30m to N60m

In its determination to promote acquisition of technical skills by young people to promote entrepreneurship, the Ondo State Government will this year build two new model technical schools in the State.

The Governor of the State, Hon. Lucky Orimisan Aiyedatiwa, disclosed this on Saturday at the State Entrepreneurship Summit, held in Akure, the State capital.

The Governor said current global economic realities have made it necessary for young people to gain technical skills to become solution providers and entrepreneurs.

Governor Aiyedatiwa said the 2024 budget has made provisions for the establishment of the two new model technical colleges, in addition to the existing ones across the State which will also receive attention.

This is just as the Governor, at the event, flagged off the distribution of tricycles to farmers in the State to aid the transportation of farm produce and enhance food security.

Addressing thousands of youths that gathered at the summit, the Governor said: “The current economy in our country demands the urgent intervention of innovative entrepreneurship. Entrepreneurs have always been at the forefront of transformative change; creating jobs, driving productivity, and catalyzing economic development.

“Our administration in Ondo State since assumption of office has placed emphasis on fostering an enabling environment for entrepreneurship and innovation to thrive. We recognise that government alone cannot drive economic growth; rather, it is through collaboration with the private sector and the empowerment of our youths that we can unlock the full potential of our economy.”

Governor Aiyedatiwa also announced an increment in the number of beneficiaries of the grants for young entrepreneurs in the State from the initial 10 to 20, raising the empowerment funds from N30m to N60m at N3m per beneficiary.

Winners of the ‘ONDEA my IDEA’ initiative, featuring most innovative entrepreneurs in Ondo State, will be awarded one million Naira cash grant each, and business support packages worth two million Naira each.

The Governor commended the Ondo State Entrepreneurship Agency (ONDEA) for being at the forefront of driving an all-inclusive and vibrant economic development with impactful initiatives that have transformed countless lives and businesses through the fostering of a culture of innovation and empowerment.

“As a State, we have implemented a range of policies and initiatives aimed at supporting entrepreneurs at every stage of their journey. We have also initiated programmes to cushion the effect of the current state of the economy. N220m was recently approved for our artisans, traders and SMEs as grants.

“I am happy to announce to you that our dear Sunshine State, will be hosting the Global Entrepreneurship Festival, indubitably the biggest entrepreneurship event in the world, where global leaders, world-renowned speakers and entrepreneurs from all over the world will be present in Ondo State during the Global Entrepreneurship Week in November this year.

“This is big news for Ondo State, and I thank the global community for trusting us to host this remarkable event. We will also be sponsoring our finest entrepreneurs to attend the festival to showcase the brilliance of Ondo State innovations”, the Governor added.

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