In a recent press briefing that took place at the Governor’s Office in Ibadan, the Director-General of the Oyo State Agribusiness Development Agency (OYSADA) and Executive Adviser to Governor Seyi Makinde on Agribusiness and International Cooperation, Dr. Debo Akande, shared a wealth of insights regarding the state’s burgeoning agribusiness sector. As he commenced the Omituntun 2.0 Inter-Ministerial Briefing, a palpable sense of optimism filled the room. It was evident that the future of agribusiness in Oyo State is not just bright—it’s transformative.
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Dr. Akande disclosed a significant milestone, revealing that Oyo State has successfully trained an impressive 5,020 youths in various facets of agribusiness. Out of this cohort, a remarkable 1,000 entrepreneurs with thriving enterprises are set to benefit from a government-backed financing initiative in collaboration with First City Monument Bank (FCMB). One might wonder: how might access to such financing reshape the landscape for these young entrepreneurs?
This initiative is just one part of a broader strategy. According to Dr. Akande, the Makinde administration has managed to attract investments totaling a staggering ₦46.6 billion and has accessed nearly $170 million in international development and agribusiness funds. Such financial influx has resulted in the establishment of 14 major processing companies, catalyzing a large-scale transformation within the agricultural sector.
“We are witnessing real change brought about by these investments,” Dr. Akande stated with enthusiasm. “The Fasola Agribusiness Hub alone has attracted ₦17 billion from 14 agribusiness companies, cultivating over 950 hectares and processing essential crops like cashew, cassava, and tomato, as well as managing dairy production from nearly 1,000 lactating cows.” The tangible impact of these investments certainly raises questions about sustainability and scalability. How can we replicate this success in other regions?
Dr. Akande proudly pointed out that Fasola has become Nigeria’s first designated Agricultural Transformation Centre. This innovative hub integrates approximately 8,200 smallholder farmers with investors, creating a reliable supply chain—a collaboration between farmers and investors that serves as a model for the rest of the country. “Fourteen agribusinesses are currently operational at Fasola,” he elaborated, “with some focusing on crop cultivation while others specialize in processing. Notably, one company is engaged in equipment leasing, demonstrating the diverse facets of agribusiness.”
He highlighted the remarkable success of commercial greenhouse farming of tomatoes at Fasola, where produce is consistently available for local markets. “What’s fascinating here,” he remarked, “is that this model can yield results year-round, independent of rainfall.” This assertion poses a provocative thought: if agricultural practices can be so adaptable, what other sectors stand to benefit from such innovative methodologies?
“Imagine if we replicated this model with 1,000 greenhouses, the sheer volume of tomatoes we could produce and process all year long would be astounding!” he added. It’s hard not to get excited about the possibilities that await, isn’t it?
With an eye on the future, Dr. Akande announced that, supported by the African Development Bank (AfDB), Oyo State has awarded a contract for constructing the Ijaiye Agribusiness Industrial Hub. This ambitious project aims to accommodate over 40 medium to large-scale agribusinesses, signaling a significant step forward in the state’s agricultural landscape. As he noted, construction will commence once the relevant contracts have been finalized.
The vision doesn’t stop there. Dr. Akande revealed plans for similar developments in Eruwa, Oke-Ogun 1, Oke-Ogun 2, and Ogbomoso, each strategically tailored to leverage the agricultural advantages inherent in their respective regions. “There are already seven companies signed up for Ijaiye,” he shared. “This will become the central hub for agribusiness activities.” One can’t help but admire such foresight; how will these hubs change the daily lives of farmers and consumers?
Dr. Akande also emphasized that support extends to 46,000 smallholder farmers through collaborations involving OYSADA, the Ministry of Agriculture and Rural Development, and the Agric-Credit Corporation of Oyo State. He underscored the significance of improved infrastructure, including vital roads and feeder routes, which are instrumental in enhancing agribusiness logistics and overall growth.
In a groundbreaking announcement, the state has signed a partnership with Rungis-Semmaris, a notable France-based international food wholesaler, to construct a wholesale produce market in Ijaiye. “This facility will function as a central aggregation point for farm produce, curbing capital flight and ensuring that the value generated remains within Oyo State,” Dr. Akande asserted. The implications of this development for local farmers and vendors are monumental. What ripple effects might this have on local economies?
“This development will stabilize food prices and ensure Oyo benefits directly from the infrastructure it has invested in. We are also pursuing a balanced approach, producing not only for local consumption but also for export,” he elaborated, painting a picture of a flourishing economy.
Joining Dr. Akande at the briefing were Mr. Badmus Kolawole, OYSADA Permanent Secretary, and Mr. Kola Kazeem, State Coordinator of the Livestock Productivity and Resilience Support Project (L-PRES). Together, they are embodying a vision of cooperation and innovative growth in the agribusiness sector that promises to uplift not only local communities but the entire state.
The journey of Oyo State’s agribusiness transformation is still unfolding, and undoubtedly, there are many challenges ahead. However, as we look ahead, it’s important to pause and reflect: how can we, as individuals and communities, contribute to this remarkable transformation?
Edited By Ali Musa
Axadle Times International–Monitoring.
