Oyo State Launches Bold Economic Recovery Program, Prioritizing Relief and Development

In a bid to stimulate economic recovery and extend aid to vulnerable communities, the Oyo State Executive Council (ExCo) convened earlier today to approve the launch of the Sustainable Actions for Economic Recovery (SAfER) Programme. The council’s decision comes after the adoption of recommendations made by the 15-member SAfER Implementation Committee.

Scheduled for a simultaneous flag-off in all seven geopolitical zones on August 30th, 2023, the SAfER Programme aims to catalyze economic resurgence while catering to the needs of marginalized populations across Oyo State. Under the visionary leadership of Governor Seyi Makinde, the comprehensive initiative is poised to tackle various facets of economic and social well-being.

The implementation of the SAfER Programme is marked by an allocated budget of N149,199,682 for the Transport component. This financial provision will encompass essential aspects such as rebranding additional buses deployed for inner and intercity routes, operational expenses, maintenance, and logistical support for approximately six months.

In a decisive move to address food security, the ExCo has approved the distribution of a Food Relief Package for 200,000 households. Each household is set to receive N26,000 worth of essential provisions, including rice, beans, garri, elubo, and groundnut oil. The collaboration between the Oyo State Government and the 33 Local Government Councils will see a joint contribution of N2,636,871,500 to fund the distribution.

Furthermore, the programme extends its reach to encompass security agencies, including Amotekun, Army, Police, Civil Defence, and other pivotal stakeholders. Additionally, civil servants at the lower echelons of the workforce are included in the plan to ensure their well-being during these challenging times.

Recognizing the pivotal role of agriculture in the state’s economy, a budget of N1,701,053,782 has been allocated for food security measures. These measures encompass various forms of support, such as enterprise assistance to YEAP beneficiaries, low-interest loans for smallholder farmers, and distribution of farming inputs to 10,000 smallholders.

Small businesses have also found favor in the SAfER Programme, with N510,000,000 set aside for low-interest loans to boost entrepreneurial activities. The ExCo’s commitment to fostering a healthier populace is reflected in the healthcare component, which includes health insurance coverage for 50,000 pensioners at N4,000 each, and for 100,000 households at N8,000 each, amounting to N1,000,000,000 in total.

The SAfER Programme’s comprehensive rollout, slated for August 31st, 2023, will be executed in a phased manner, facilitating efficient distribution to the most vulnerable segments of society. This strategic approach ensures that support reaches those who need it most, ushering in a new era of economic recovery and social upliftment for Oyo State.