Governor Makinde Unveils Ambitious Economic Recovery Plan for Oyo State
Oyo State's Governor Seyi Makinde Announces Bold Economic Recovery Strategy
In a bid to cushion the impact of fuel subsidy removal and enhance the welfare of the people, the Governor of Oyo State, Engnr. Seyi Makinde, has announced a comprehensive economic recovery plan that includes an expansion of the Omituntun bus service, reduced fares for specific groups, and various social welfare initiatives.
During a special broadcast to the residents of Oyo State on Friday, Governor Makinde revealed that the number of Omituntun buses would be significantly increased to improve transportation within the state. Furthermore, fares for pensioners, students, and Oyo state workers would be reduced to ease the financial burden on these groups.
Highlighting the importance of mobility and accessibility, Engnr. Makinde stated that the Omituntun buses would also expand their coverage to include inter-city routes, connecting Ibadan to various zones within Oyo State. The specific routes and schedules will be disclosed in the coming weeks.
Governor Makinde’s administration is committed to tackling poverty and supporting the most vulnerable citizens. To this end, the social register will be updated to include two hundred thousand (200,000) of the poorest individuals, who will receive immediate food relief packages. The registration process will be transparent, ensuring that only those who genuinely qualify receive the assistance.
Healthcare access will also be improved as the government plans to provide health insurance for 100,000 of the most vulnerable citizens under the Oyo State Health Insurance Agency (OYSHIA) scheme. This move aims to ensure that these citizens have access to quality healthcare without incurring out-of-pocket expenses.
In a significant boost to the agricultural sector, the government will distribute additional inputs to 10,000 farmers to enhance food security within the state. This is in addition to the support provided under the World Bank-assisted OYS-CARES program. Further details on this initiative will be released by relevant agencies in the near future.
Young agropreneurs who have undergone training through the Youth Entrepreneurship in Agribusiness Project (YEAP) and established their businesses will receive a substantial enterprise support of five hundred million naira (N500,000,000) under the SAfER package. This initiative aims to encourage sustainable development and further contribute to food security.
Small businesses are not left out of the economic recovery plan. Governor Makinde has pledged to provide low-interest-rate loans amounting to five hundred million naira (N500,000,000) to help these businesses stay afloat. Traders, artisans, and other small business operators can apply for these loans through designated micro-finance banks. Details on the application process will be made available by the relevant agencies.
Education has also been prioritized in the recovery plan. Tertiary institution students in Oyo State will enjoy discounted fares on Omituntun Buses when they present their school identity cards. Additionally, Governor Makinde intends to meet with student leaders to discuss further measures to support students during these challenging times.
The comprehensive economic recovery plan unveiled by Governor Seyi Makinde demonstrates a proactive approach to alleviate the impact of the fuel subsidy removal and uplift the livelihoods of Oyo State residents. As these initiatives are rolled out in the coming weeks, the government assures transparency and accountability to ensure that the benefits reach those who need them the most.
Residents of Oyo State eagerly await the implementation of these measures, which are expected to foster economic growth, social well-being, and sustainable development throughout the state.