The Oyo State Government has reaffirmed its commitment to youth-driven economic growth, announcing that its flagship Graduate Industrial Self-Employment Scheme (GISES) will roll out within the next two weeks to tackle unemployment and boost local production.
Commissioner for Investment, Trade, Cooperatives and Industry, Adeniyi Adebisi, disclosed this at the opening of the Genspark 2026 Entrepreneurs’ Empowerment Summit and Ibadan Business Exhibition held at Liberty Stadium, Oke-Ado, Ibadan, where he appeared as Special Guest of Honour.
Adebisi explained that GISES is a structured revolving loan scheme aimed at providing seed capital for unemployed graduates to establish small-scale industrial ventures, adding that it is backed by a strong entrepreneurship development component designed to equip beneficiaries with practical skills in business identification, management and feasibility analysis.
According to him, the initiative aligns with the economic vision of Governor Seyi Makinde, which prioritises job creation, youth engagement and sustainable development, with a clear focus on strengthening local production as a backbone for a thriving economy.
He stressed that the state government has remained deliberate in reducing unemployment through targeted interventions, including skills acquisition programmes, vocational training and sustained support for Micro, Small and Medium Enterprises (MSMEs).
“Empowering young people with market-relevant skills in areas such as manufacturing, agribusiness and innovation will not only enhance productivity but position them as drivers of economic transformation,” he said.
The commissioner further listed ongoing collaborations between the ministry and agencies such as the Nigerian Export Promotion Council to train farmers and exporters, alongside other government-backed initiatives aimed at nurturing emerging entrepreneurs.
He urged participants at the summit to take advantage of the opportunities to build viable businesses and contribute meaningfully to the state’s economy.
Earlier, Chairman of the opening ceremony, Oyedapo Idowu Richard, underscored the critical role of the private sector in driving economic growth, noting that platforms like Genspark create avenues for networking, investment and business expansion.
Also speaking, Oyo State Manager of the Small and Medium Enterprises Development Agency of Nigeria, Iyabo Ojogbede, reiterated the agency’s commitment to supporting small businesses through capacity building, improved access to finance and enabling policy frameworks.
The convener of the programme, Abiodun Ajibade, said in his welcome address that the summit was designed to bridge gaps in entrepreneurial knowledge and provide mentorship, business insights and networking opportunities for participants.