The Oyo State Government has attracted over N46.6 billion in agribusiness investments, a development officials say is transforming the state’s economy and positioning it as a leader in agricultural industrialisation in Nigeria.
This was disclosed by Dr. Debo Akande, Director-General of the Oyo State Agribusiness Development Agency (OYSADA) and Executive Adviser to Governor ‘Seyi Makinde on Agribusiness and International Cooperation, during the Omituntun 2.0 Inter-Ministerial Briefing held Wednesday at the Governor’s Office Briefing Room, Secretariat, Agodi, Ibadan.
According to Dr. Akande, the investments are part of a bigger success story in agribusiness under Governor Makinde’s administration.
“We have accessed close to $170 million in agribusiness and international development funds, while about 14 large processing companies have entered the agribusiness space in the state,” he said.
He explained that the administration’s strategic investments in agricultural enablers including road infrastructure, rural security, and supportive policies have begun yielding significant dividends.
“We have supported smallholder farmers, scaled up medium agribusinesses, and opened new frontiers in value addition,” Akande noted.
The OYSADA DG also revealed that the state has developed a framework for the Livestock Value Chain, with ongoing construction of a Livestock Transformation Centre at the Fasola Agribusiness Hub. He said the facility will produce high-quality livestock and will be replicated in other agribusiness hubs.
On youth empowerment, Akande announced that 5,020 young people have been trained in various aspects of agribusiness, and 1,000 of them are poised to benefit from a N1.5 billion government-facilitated support initiative in partnership with FCMB.
Also, the state has supported 46,000 smallholder farmers through various institutions including OYSADA, the Ministry of Agriculture and Rural Development, and the Agricultural Credit Corporation of Oyo State. Infrastructure development, such as the construction of key roads and feeder routes, has played a critical role in enabling access to markets and agricultural zones, he added.
Speaking on the Fasola Agribusiness Hub, Akande described it as a flagship initiative that has attracted close to N17 billion in investment from 14 agribusiness firms operating on nearly 950 hectares of land.
“Fourteen new agribusinesses are in Fasola, with some into crop production, some into processing, and one into equipment leasing. As of today, 950 hectares of farmland have been cultivated,” he said. “This is what you call agribusiness and that is what you have in Fasola.”
He cited the example of commercial-scale greenhouse tomato production in Fasola. “The tomatoes coming out of the place are already being supplied to retail shops and markets. I buy my tomatoes at Fasola now, Agriculture should not be seasonal, this model shows we can produce all year round,” he stated.
Akande announced that Oyo State will soon begin construction of a mega agribusiness hub in Ijaiye, supported by the African Development Bank (AfDB) saying “It will be built with over 40 industries, and already, seven industries have signed up,” he said. He added that the hub will dwarf Fasola in scale.
Similarly, work is underway in Eruwa, which will mirror Fasola’s model. In his words: “Eruwa will also have close to 10 industries, and I can announce we are already oversubscribed,” he said.
According to Akande, the state plans to replicate similar hubs across Oke-Ogun 1, Oke-Ogun 2, and Ogbomoso, based on each zone’s comparative and competitive agricultural advantage.
Dr. Akande also announced a landmark partnership with France-based international food wholesale company, Rungis-Semmaris. Dr Akande said the agreement will lead to the construction of a modern wholesale produce market in Ijaiye, which will serve as a central aggregation point for farm produce from across the state.
“When constructed, the wholesale market will stop the situation where produce is moved out of the state in tonnes with little benefit to us,” Akande stated. He added that the initiative will also help stabilise food prices locally.
“We are balancing export-driven production with the need to ensure food availability and affordability for our people,” he said.
Akande was joined at the inter-ministerial briefing by OYSADA Permanent Secretary, Mr. Badmus Kolawole, and the State Coordinator of the Livestock Productivity and Resilience Support Project (L-PRES), Mr. Kola Kazeem as well as the Special Adviser on Media and Chief Press Secretary to the Oyo state governor, Dr Sulaimon Olanrewaju.