The Ekiti State Government, in partnership with First Bank of Nigeria, has disbursed \u20a650 million in grants to 300 innovators and entrepreneurs across the state under the Innovation Enterprises Support Fund.\n<\/p>\n
The beneficiaries, who received between \u20a6150,000 and \u20a61 million each, are expected to scale their businesses and drive innovation within Ekiti\u2019s growing enterprise ecosystem.\n<\/p>\n
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Speaking at the event in Ado-Ekiti, the bank\u2019s Chief Executive Officer, Olusegun Alebiosu, said the initiative reflects the institution\u2019s commitment to financial inclusion, SME development, and youth empowerment. He noted that beyond funding, the programme will provide mentorship and market access to help businesses grow sustainably.\n<\/p>\n
Alebiosu, represented by Adebayo Yakubu, explained that the initiative is designed to support startups, strengthen tech-enabled enterprises, and accelerate innovation-driven economic growth in the state.<\/p>\n
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Governor Biodun Oyebanji, represented by his Chief of Staff, Niyi Adebayo, described the collaboration as a strong example of how public and private sector partnerships can drive sustainable development. He added that the programme is structured to not only fund businesses but also equip them with the skills and support needed for long-term success.\n<\/p>\n
Commissioner for Innovation, Science and Digital Economy, Seun Fakuade, said the initiative follows a structured process, including application, selection, training, and milestone-based disbursement, aimed at transforming Ekiti into a digital innovation hub.\n<\/p>\n
One of the beneficiaries, Ronke Aderonmu, commended both partners for prioritising entrepreneurship and innovation, noting that the support will help small businesses grow and create jobs.\n<\/p>\n
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The initiative underscores the growing role of MSMEs in driving economic expansion, job creation, and inclusive growth at the state level.\n<\/p>\n