Tegbe Foundation has empowered 60 small businesses and social enterprises across Oyo State with grants ranging from ₦100,000 to ₦500,000, with most of the beneficiaries being young entrepreneurs.
The initiative, tagged #JTstrikesDiamond, concluded with a closing ceremony in Ibadan attended by government representatives, traditional leaders, community stakeholders and development advocates.
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The programme was created to mark the 60th birthday of Mogaji Joseph Olasunkanmi Tegbe, founder of Tegbe Foundation, while its grant presentation ceremony was held in connection with International Youth Day.
The foundation said the initiative was designed to provide practical financial support to entrepreneurs and strengthen youth participation in enterprise development across Oyo State.
“This is more than support, it’s an investment in youth development, entrepreneurship, and a stronger economic future,” Executive Director of Tegbe Foundation Femi Adeleke said.
Each of the 60 selected beneficiaries received direct financial assistance, with individual grants determined within the ₦100,000 to ₦500,000 range.
The beneficiaries include small businesses and social enterprises operating in different parts of Oyo State, with youth-led ventures making up the majority of those supported.
The closing ceremony brought together prominent figures including Oloye Denrele Lekan-Salami, Ajia Balogun Olubadan; Engineer Bode Johnson; Femi Adeleke; Honourable Hafiz Oladejo, Special Adviser to the Minister on Stakeholder Engagement; Asiwaju Tayo Alabi; Chief Mrs Funmilayo Arulogun; Honourable Inaolaji Akinloye; and Honourable Raji Draj Ademola.
Several of the guests delivered goodwill messages and expressed support for the foundation’s focus on entrepreneurship, youth development and community empowerment.
For the beneficiaries, the financial assistance comes at a time when access to affordable capital remains a significant challenge for many small enterprises.
Grants of this nature can help businesses purchase equipment, increase stock, improve services or strengthen their day-to-day operations.
The foundation described the programme as a measurable intervention aimed at helping young people build sustainable livelihoods rather than simply providing a ceremonial form of assistance.
The initiative also reflects a broader effort by philanthropic organisations and community-focused institutions in Oyo State to support entrepreneurship as a route to economic participation and employment.
Tegbe Foundation said the successful completion of the programme reinforces its commitment to youth development, entrepreneurship and community empowerment across the state.
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With the 60 grants now disbursed, attention will turn to how the supported businesses use the funding and whether the intervention can translate into sustained growth, employment and wider economic impact within their communities.
David Okere is a journalist and contributor to Freelanews.com, covering business, governance, public affairs, and human-interest stories with a commitment to accuracy, balance, and public interest reporting.
