Hon. Akin Alabi, the Member of the House of Representatives representing Egbeda/Ona-Ara Federal Constituency and Chairman of the House Committee on Works, has launched a ₦500 million Micro Business Support Initiative aimed at empowering small business owners across the constituency.
The initiative is designed to support micro entrepreneurs, boost grassroots economic activities, and improve the livelihoods of thousands of residents in Egbeda and Ona-Ara communities.
₦50 Million Disbursed to 500 Micro Business Owners at Flag-Off
The programme was officially flagged off on Thursday at the Esho Events Center, Old Ife Road, Ibadan. During the launch, ₦50 million was disbursed to the first batch of 500 beneficiaries.
Each selected micro business owner received ₦100,000 as direct financial support to help strengthen their businesses, expand operations, and cushion everyday business challenges.
Monthly Disbursement Plan to Reach 5,000 Beneficiaries
Speaking at the event, Hon. Akin Alabi explained that the Micro Business Support Initiative will run for 12 months, with funds disbursed monthly until the ₦500 million target is fully achieved.
According to him, beneficiaries will be drawn from across Egbeda and Ona-Ara Federal Constituency, ensuring fair representation and broad economic impact. When completed, the programme is expected to reach 5,000 micro business owners.
Economic Empowerment as a Tool for Sustainable Development
Hon. Alabi emphasized that economic empowerment remains central to sustainable community development. He noted that supporting small-scale entrepreneurs helps stimulate local economies and complements ongoing infrastructure projects within the constituency.
“Economic empowerment remains a critical pillar of sustainable community development,” he said, adding that the initiative is meant to give small business owners the needed push to grow and become more financially stable.
Political Leaders and Stakeholders Grace the Event
The flag-off ceremony was attended by several political leaders and party stakeholders from across Oyo State. Notable attendees included Hon. Joshua Oyebamiji, PhD, Chairman of APC Oyo Central Senatorial District; Hon. Olawale Olaleye, Chairman of APC in Egbeda Local Government; and Prince Kolawole Ogundipe, Chairman of APC in Ona-Ara Local Government.
Others present were Alhaji Yinka Folarin, APC leader in Ona-Ara Local Government, and Hon. Olawale Sadare, APC State Public Relations Officer.
Former Lawmakers and Community Leaders in Attendance
Also in attendance were Hon. Bola Fawole, former Majority Leader of the Oyo State House of Assembly; Hon. Ismaila Akanni Ere, former Executive Chairman of Ona-Ara Local Government; Alhaji Sule Suara Elegbeda, APC leader in Egbeda Local Government; and Hon. Biliaminu Ogundele, APC leader in Egbeda Local Government.
Former member of the Oyo State House of Assembly, Hon. Ibrahim Bolomope, alongside other party leaders and community stakeholders, also graced the event.
Strengthening Local Economies Through Direct Support
The ₦500 million Micro Business Support Initiative marks another significant step in Hon. Akin Alabi’s approach to governance, which combines infrastructure development with direct economic empowerment.
By providing financial support directly to micro business owners, the programme aims to promote inclusive growth, strengthen local economies, and expand opportunities for entrepreneurs across Egbeda and Ona-Ara Federal Constituency.
