Senator Solomon Olamilekan Adeola, popularly known as Yayi and the All Progressives Congress (APC) governorship candidate in Ogun State, has launched a fresh round of financial support for small-scale traders, disbursing grants to 3,000 market women and men in the Ogun Central Senatorial District.
The intervention, implemented in partnership with the National Productivity Centre under the Federal Government’s Renewed Hope Agenda, is aimed at strengthening grassroots businesses, expanding access to working capital and stimulating local economic activity across Ogun State.
Each beneficiary received ₦75,000 as a non-repayable grant, bringing the total disbursement for the current phase to ₦225 million. The programme is expected to extend to beneficiaries in the other senatorial districts of the State in subsequent phases.
Speaking during the presentation ceremony, Adeola said the initiative was designed to provide immediate economic relief for traders while also supporting the long-term growth of micro and small enterprises that form the backbone of local commerce.
He stressed that the funds were not loans and would not require repayment, urging beneficiaries to channel the money directly into their businesses.
According to him, empowering market women and men is one of the fastest ways to improve household incomes, support food distribution networks and strengthen the informal sector, which employs a significant portion of the population.
“Our market women and men remain the backbone of our local economy, and supporting their businesses is critical to promoting sustainable economic growth,” he said.
“This grant is not a loan but a direct intervention to help beneficiaries strengthen their businesses, increase their capital and improve their livelihoods. I appeal to every beneficiary to invest the funds wisely so they can grow their businesses and create greater prosperity for their families.”
Expansion of Market Support Programme
The latest disbursement is part of the YAYI Market Women and Men Support Fund, which has expanded steadily since it was introduced.
Records from the programme show that 5,000 traders received ₦25,000 each in 2023, while another 5,000 beneficiaries were given ₦50,000 each in 2024. In 2025, the third edition supported 5,000 traders with ₦75,000 grants, and the current phase broadens the intervention to traders across all three senatorial districts of Ogun State.
The cumulative value of the grants distributed through the scheme now runs into hundreds of millions of naira, making it one of the larger trader-support initiatives associated with a federal lawmaker in the State.
Focus on Market Infrastructure
Beyond direct cash support, Adeola said the intervention also includes efforts to improve the physical conditions under which traders operate.
He disclosed that two ultra-modern markets are currently under construction in Ogun Central: one at Isaga-Orile in Abeokuta North Local Government Area and another at Panseke in Abeokuta South Local Government Area.
The facilities are expected to provide improved stalls, sanitation systems, water supply and better trading environments for thousands of traders when completed.
According to the Senator, improved market infrastructure is essential for reducing losses, enhancing safety and increasing commercial activity in both urban and semi-urban communities.
Broader Infrastructure Interventions
Adeola also highlighted other projects facilitated during his time in the Senate, particularly in Ogun West Senatorial District.
He said that over the past three and a half years, he has facilitated the construction of 43 modern markets, alongside the installation of solar-powered boreholes and solar streetlights in major market locations.
The projects, he noted, were intended to improve access to clean water, enhance security and extend trading hours for businesses operating in local markets.
Residents and traders in several communities have repeatedly identified poor infrastructure, inadequate lighting and unreliable water supply as major obstacles to market productivity and revenue generation.
Traders Welcome Intervention
Beneficiaries at the event expressed appreciation for the grant, describing it as timely support amid rising business costs and declining purchasing power.
Some traders said the funds would be used to restock goods, expand inventory and settle outstanding obligations to suppliers.
For many small-scale traders, access to formal credit remains difficult because of collateral requirements, high interest rates and limited financial records. As a result, non-repayable grants are often viewed as a more accessible form of support for sustaining business operations.
Economic Significance
Analysts say interventions targeted at market traders can have a multiplier effect on local economies because beneficiaries typically spend the funds within their communities through the purchase of goods, transportation services and other business inputs.
The programme also comes at a time when many small businesses are grappling with inflationary pressures, higher transportation costs and increased operating expenses.
While political observers note that such empowerment initiatives are likely to feature prominently in the build-up to the 2027 Ogun governorship election, supporters of the programme argue that the immediate economic benefits to beneficiaries are substantial regardless of the political context.
The Ogun Central phase marks the latest stage of the state-wide trader-support initiative, with additional disbursements expected as the programme reaches other parts of Ogun State.