Ondo State Governor Lucky Aiyedatiwa has unveiled plans to promote investment and wealth creation among youths in the state. At the 2026 Ondo State Entrepreneurship Agency (ONDEA) Entrepreneurs Summit held in Akure, Aiyedatiwa disclosed that his administration would purchase shares in Dangote Group for 500 young entrepreneurs. This initiative aims to expose them to investment opportunities and provide a stake in one of Nigeria's major business groups.
The summit, themed "The New Ondo: Positioning Entrepreneurs for Emerging Opportunities," brought together entrepreneurs, business owners, investors, policymakers, and stakeholders. Aiyedatiwa emphasized that the initiative is part of his administration's plan to shift Ondo's economy from being civil service-driven to one driven by entrepreneurship, innovation, and investment. He wants to create an entrepreneurial ecosystem that connects ideas to skills, skills to businesses, and businesses to finance and markets.
In addition to the Dangote shares, Aiyedatiwa announced N80 million in grants for 20 entrepreneurs selected under the ONDEA My IDEA programme. Each beneficiary will receive N4 million, along with business support, mentorship, and opportunities for international exposure. The governor highlighted that his administration is particularly interested in sectors such as agriculture, agro-processing, cocoa, tourism, and renewable energy.
Aiyedatiwa also launched the Lucky Light Initiative, a phased solar-energy programme aimed at providing reliable and affordable electricity to 1,000 small businesses across the state's 18 local government areas. This programme is an economic intervention designed to support small businesses with clean and affordable power, rather than a household electrification scheme.
The governor urged the 20 beneficiaries of the My IDEA programme to use the funds to establish sustainable businesses, create jobs, pay taxes, and support other entrepreneurs. He emphasized that rising energy costs have increased the cost of doing business for small enterprises, making the Lucky Light Initiative a necessary intervention.
Earlier, Special Adviser to the Governor on Entrepreneurship, Innovation, and Investment, Summy Smart Francis, revealed that ONDEA received over 2,703 applications for the My IDEA programme. After three levels of screening, 20 beneficiaries were selected. Francis encouraged young entrepreneurs to seek opportunities, emphasizing that successful entrepreneurship requires clarity, discipline, and speed in the right direction.
The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, represented by his Special Adviser, Toba Oyedele, emphasized that entrepreneurs will play a central role in the Federal Government's ambition to build a $1 trillion economy by 2030. Oyedele called on entrepreneurs to take advantage of opportunities created by economic reforms, innovation, and investment initiatives.
Key points
- Governor Aiyedatiwa plans to purchase Dangote shares for 500 young entrepreneurs in Ondo State.
- The governor has also announced N80 million in grants for 20 entrepreneurs under the ONDEA My IDEA programme.
- Aiyedatiwa launched the Lucky Light Initiative to provide solar energy to 1,000 small businesses across the state.
