The Oyo State Government has trained no fewer than 180 traders and artisans in the state on prerequisite leadership skills which are needed to support the growth and development of Micro, Small, and Medium Enterprises (MSMEs) in the state.
The leadership training programme and business insurance launch was held at the Federal Government Secretariat, Agodi, Ibadan, with participants drawn from the 33 Local Government Areas in the state.
The Commissioner for Investment, Trade, Cooperatives and Industry, Adeniyi Adebisi, explained that the initiative, specifically designed for traders and artisans in the state, is part of the state government’s broader efforts to support MSMEs, traders, and artisans, which it deems as critical to the state’s economic growth.
Adebisi, who was represented by the Assistant Director of Trade, Olawale Olanrewaju, said the training programme aims to educate traders and artisans on the importance of insurance policies, noting that the state government does not want any business to fail in the state and is committed to providing the necessary support.
The commissioner emphasised that insurance companies now have a regulatory body that supervises them, ensuring that they pay compensation when accidents or permanent disabilities occur.
He stated: “The Oyo State Government has also approved a single-digit interest loan scheme for traders and artisans in the 2025 budget. This flexible loan programme requires minimal collateral, making it easier for businesses to access funding. The government aims to provide financial support to businesses, enabling them to purchase necessary tools and equipment.”
The Babaloja General of Oyo State, Alhaji Yekeen Abass, who commended the initiative, noted that leadership plays a vital role in business success, emphasising the importance of insurance as a shield against unforeseen circumstances, protecting businesses from unplanned expenses and offering a financial cushion.
Abass expressed gratitude to Governor Seyi Makinde for initiating the training programme which is expected to have a positive impact on the businesses of traders and artisans in Oyo State, and also appreciated the governor’s efforts in providing good road access, employing more workers, and ensuring timely payment of workers’ salaries.
The training session covered essential topics, including Leadership and Strategy for Business Growth, Understanding Business Insurance for Future Stability, Effective Risk Management, and Leadership in Crisis.
Olusola Akintonde
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