Ondo State Governor, Lucky Aiyedatiwa, has unveiled plans to empower 500 young entrepreneurs in the state with shares in the Dangote Group. This initiative is part of his administration's efforts to encourage young people to build wealth through entrepreneurship and investment. The announcement was made at the 2026 Ondo State Entrepreneurship Agency, ONDEA, Entrepreneurs Summit held in Akure. The summit brought together entrepreneurs, business owners, investors, policymakers, and other stakeholders in the state.
The summit, themed "The New Ondo: Positioning Entrepreneurs for Emerging Opportunities," provided a platform for entrepreneurs to discuss funding, innovation, technology, business expansion, and access to new markets. Governor Aiyedatiwa said the planned Dangote share ownership would give selected young entrepreneurs an opportunity to participate in the capital market while building a culture of long-term investment. The beneficiaries will be selected from young entrepreneurs participating in the state's enterprise development programmes.
Aiyedatiwa explained that the initiative was not only about supporting people to start or expand businesses but also designed to introduce young entrepreneurs to other ways of building financial security. He emphasized that the goal is to give youths a real stake in one of Africa's leading industrial conglomerates and inspire a culture of investment and long-term thinking. The governor made this announcement alongside other economic interventions aimed at supporting entrepreneurs in the state.
One of the interventions unveiled by the governor is the Lucky Light Initiative, a solar power programme targeted at 1,000 small businesses across Ondo State's 18 local government areas. The programme aims to help entrepreneurs deal with the high cost of electricity and reduce their dependence on petrol and diesel generators. The state's ONDEA said the initiative would provide solar energy systems to selected businesses, with the programme covering businesses operating across the state.
Governor Aiyedatiwa stressed that Lucky Light was primarily a business support intervention and not a household electrification programme. He said reducing energy costs would allow small businesses to devote more resources to production, expansion, and employment. The initiative is expected to be implemented in phases across the 18 local government areas. The government had earlier presented the programme as part of its wider effort to improve the operating environment for micro, small, and medium-sized businesses in the state.
Aiyedatiwa also announced financial support for 20 entrepreneurs selected through the ONDEA My IDEA programme. The beneficiaries will receive grants and other business support packages, as well as access to mentorship and opportunities for further development and exposure. The Special Adviser to the Governor on Entrepreneurship, Innovation, and Investment, Dr. Summy Smart Francis, disclosed that the My IDEA programme attracted more than 2,703 applications, with the eventual 20 beneficiaries emerging after a three-stage screening process.
The governor charged beneficiaries of the various programmes to use the opportunities to build sustainable businesses rather than depend permanently on government intervention. He emphasized that successful businesses should contribute to the wider economy by creating jobs, paying taxes, and supporting other people. The administration is also focusing on sectors such as agriculture and agro-processing, tourism, the blue economy, technology, renewable energy, manufacturing, creative industries, and export-oriented businesses to drive economic growth in the state.
Key points
- Governor Aiyedatiwa announces 500 Dangote shares for young entrepreneurs in Ondo State.
- The Lucky Light Initiative aims to support 1,000 small businesses with solar power.
- 20 entrepreneurs to receive financial support through the ONDEA My IDEA programme.
