The Ooni of Ife, Oba Adeyeye Ogunwusi, has announced the creation of a N1 billion empowerment fund for female entrepreneurs in Nigeria, in honor of the late Abibatu Mogaji, mother of President Bola Tinubu.
The announcement was made during the 4th edition of the Royal African Young Leadership Forum, held at the Oduduwa Hall of Obafemi Awolowo University in Ile-Ife, Osun State. This initiative is a collaboration with the Small and Medium Enterprise Development Agency (SMEDAN).
During the event, Oba Ogunwusi signed an agreement with a SMEDAN representative, emphasizing that the fund aims to help young women realize their entrepreneurial dreams. The Ooni highlighted the legacy of Abibatu Mogaji, praising her entrepreneurial achievements and contributions to the nation.
“We are going to be creating a fund, where we can support our businesses, so if you have an idea, you’ll have access to capital," said Oba Ogunwusi. "We are naming this fund after Iyaloja Abibatu Mogaji Tinubu to help young people establish their own business.”
The Ooni also spoke on the significance of the 2024 Royal African Young Leadership Forum, which honored 100 youths from across the African continent, stating that it underscores the growing recognition of Africans' importance in the global arena.
