Nigeria’s Minister of Power, Adebayo Adelabu, has disbursed ₦100 million in grants to traders and artisans in Oyo State to boost small businesses and reduce poverty.
Grant Distribution and Objectives
The disbursement took place during a community outreach event in Ibadan, where Adelabu emphasized the importance of empowering micro-businesses. He noted that the informal sector drives much of Nigeria’s economy and deserves targeted support. The ₦100 million was distributed in cash and equipment, with some recipients receiving tools to enhance productivity.
Adelabu stated, “This initiative is not just about money—it’s about restoring dignity and opportunity to hardworking Nigerians who keep our economy alive.”
Beneficiaries and Impact
Over 1,000 individuals benefited from the grants, including:
Market traders needing capital to restock goods
Artisans such as welders, hairdressers, and carpenters
Transport workers seeking vehicle repairs or upgrades
The program also included financial literacy sessions and business registration support to help recipients formalize their operations.
Political and Economic Context
The grant aligns with federal efforts to cushion the effects of subsidy removal and economic reforms. Oyo State, with its large informal workforce, has been a focal point for empowerment schemes. Adelabu, a former gubernatorial candidate, emphasized that the initiative was non-partisan and focused solely on development.
