OLORUNDARE ENIMOLA, Lagos
Chairman of the Senate Committee on Appropriations, Senator Solomon Olamilekan Adeola (Yayi), has empowered 4,000 market women and men in Ogun West Senatorial District with grants of ₦75,000 each under the fifth edition of his Oloja Yayi Market Support Fund Empowerment Programme.
Speaking at the empowerment programme held on Friday at the Asade Agunloye Pavilion in Ilaro, Yewa South Local Government Area, Adeola said the initiative was designed to strengthen micro and small-scale businesses while cushioning the impact of prevailing economic challenges on traders.
The senator said the fifth edition concluded a statewide exercise that had earlier been held in Abeokuta for beneficiaries from Ogun Central and in Ijebu Ode for traders from Ogun East, ensuring that all three senatorial districts in the state were covered.
Adeola recalled that the programme was conceived during his campaign for the Ogun West Senate seat on February 6, 2023, after identifying inadequate access to capital as a major challenge facing market traders.
According to him, the initiative complements existing intervention programmes, including Governor Dapo Abiodun's Oko Owo Dapo scheme and the Federal Government's TraderMoni programme, which were established to provide financial support for small businesses.
He said that before his election into the Senate, he personally facilitated two rounds of grants of ₦25,000 each to 5,000 market traders, laying the foundation for what later became known as the Oloja Yayi programme.
Adeola explained that the third edition, held on January 28, 2024, saw another 5,000 traders across the five local government areas of Ogun West receive ₦50,000 each, while the fourth edition, conducted on April 27, 2025, expanded to beneficiaries from across Ogun State, with 5,000 traders receiving ₦75,000 each.
The lawmaker disclosed that the current edition is being implemented in partnership with the National Productivity Centre as part of efforts to support President Bola Ahmed Tinubu's Renewed Hope Agenda for economic growth.
He stressed that the financial support is a grant and not a loan, urging beneficiaries to invest the funds in their businesses to improve their livelihoods.
Adeola also assured traders who were not selected for the current phase that additional beneficiaries would be accommodated in future editions, expressing optimism that the initiative would continue beyond 2027.
Beyond financial assistance, the senator highlighted infrastructure projects he said had been facilitated across Ogun West to support commercial activities.
According to him, 43 modern markets and related facilities have been constructed in the district over the past three and a half years. The projects include lock-up and open shops at Lusada, Agosasa, Ijoun, Igbo Aje Market in Ilaro, Sayedero Market, Farmers' Market in Ilobi-Erinja, Obada Market, Ilara Market and TT Dada Market in Ota.
He added that 10 solar-powered boreholes had been installed in major markets across the district, including Ilaro, Owode, Ayetoro, Oja-Odan, Ipokia, Tube, Imeko, Oba Titi Dada and Lusada.
Adeola further said solar-powered street lights had been provided in several markets, including TT Dada, Lusada, Atan, Owode, Tube, Koko, Sayedero, Oja-Odan, Ijoun, Ayetoro, Imeko, Ilara, Iwoye, Obada, Sabo Owode, Ijoko Ota, Agosasa, Ado-Odo and Igbo Aje Market in Ilaro, to improve security and encourage longer trading hours.
The senator maintained that beneficiaries of the empowerment programme were selected without bias or political consideration.
"The programmes are for the people without discrimination. I encourage all beneficiaries to make judicious use of the grants to expand their businesses and improve their standard of living," he said.
He reaffirmed his commitment to sustaining the initiative, describing it as a complement to the economic reforms of the Federal Government and the development agenda of the Ogun State Government, while congratulating the beneficiaries and wishing them success in their businesses.
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