Ondo State Governor, Lucky Aiyedatiwa, has announced plans to acquire shares in the Dangote Group for 500 young entrepreneurs in the state as part of efforts to promote wealth creation and financial inclusion among youths.
Aiyedatiwa disclosed this at the 2026 ONDEA Entrepreneurs
Summit in Akure, where he said the beneficiaries would be selected from young
entrepreneurs participating in the state’s enterprise development programmes.
He said the initiative would give the beneficiaries an
ownership stake in one of Africa’s major indigenous business groups while
exposing them to capital market investment.
The governor also launched the Lucky Light Initiative, which
he said would provide solar power support to 1,000 small businesses across the
state’s 18 local government areas.
He clarified that the initiative was designed specifically
as a business support intervention and not a household electrification
programme.
Aiyedatiwa further announced an N80 million grant for 20
entrepreneurs selected under the ONDEA My IDEA programme, with each beneficiary
receiving N4 million.
He said the beneficiaries would also receive mentorship,
business support services and opportunities for foreign business exposure.
According to the governor, the initiatives were part of his
administration’s efforts to transform Ondo from a predominantly civil service
economy into an entrepreneurship and innovation-driven state.
“Our goal is to move beyond producing raw materials to
processing, packaging, branding and exporting finished products for local and
global markets,” he said.
The summit was themed, “Positioning Entrepreneurs for
Emerging Opportunities.”
In his keynote address, the Minister of Finance and
Coordinating Minister of the Economy, Taiwo Oyedele, represented by his Special
Adviser, Toba Oyedele, said entrepreneurs were critical to achieving Nigeria’s
$1 trillion economy target by 2030.
The Special Adviser to the Governor on Entrepreneurship,
Innovation and Investment, Dr Summy Smart Francis, said the My IDEA initiative
received more than 2,703 applications.
He said 20 winners emerged after undergoing three stages of
screening.
Also speaking, media entrepreneur and former TVC
Entertainment boss, Morayo Afolabi-Brown, urged investors to look beyond Lagos
and explore business opportunities across the South-West.
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