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Home Business Agriculture

Oyo Attracts $170m Investment Through Agribusiness -Commissioner

Newscoven by Newscoven
June 19, 2025
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Oyo Attracts $170m Investment Through Agribusiness -Commissioner

From left: Permanent Secretary, Oyo State Ministry of Agriculture and Rural Development, Mrs Bosede Owoeye; Commissioner for Agriculture and Rural Development, Barr Olasunkanmi Olaleye; Secretary to Oyo State Government, Professor Olanike Adeyemo and Special Adviser (Media) to the Governor, Dr Sulaimon Olanrewaju, during the maiden Inter-Ministerial Press Briefing of the Ministry of Agriculture and Rural Development, held at the Conference Room of the Governor's Office, Ibadan, on Thursday. PHOTO: Oyo Gov's Media Unit.

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Oyo State Commissioner for Agriculture and Rural Development, Mr Olasunkanmi Olaleye, on Thursday, disclosed that the state has attracted $170 million investment through agriculture.

He made the disclosure during the maiden edition of inter-ministerial news briefing on government activities in two years of the second-term tenure of Governor ‘Seyi Makinde, held at the Conference Room of the Governor’s Office, Agodi, Ibadan.

He said the $170 million investment would also create jobs for many people, noting that the policy of the Makinde-led administration in agriculture has cascaded to the people at the grassroots level.

According to him, the establishment of Fasola Agribusiness Hub, Oyo, was a reflection of government’s commitment to leveraging agriculture as a key driver of economic growth and development.

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The commissioner also stated that more than 8,000 small holder farmers have been integrated because of the size of the agro business companies at the hub.

Highlighting the achievements of his ministry in the last two years, the commissioner said not less than 10,210 farmers have been supported with seedlings and other input.

According to him, 3,541 maize farmers and 920 soybean farmers benefited from the seedlings distribution programme.

He stated that high-yield cassava stems were distributed to 1,269 farmers, “covering 47,587.5 acres with potential to produce 214,143.75 tons of cassava tubers.”

Olaleye further said knapsack sprayers were distributed to 1,980 farmers, and herbicides and pesticides to 2,500 farmers.

The commissioner stated that government equally supported 8,464 livestock and aquaculture farmers with quality feed and other necessary input.

“We distributed quality inputs to diverse livestock farmers: 1,150 fish farmers received three bags each of 15kg quality fish feed.

“2,536 cattle, sheep, and goat farmers received nutritional supplements including 253,600kg of wheat offal, brewery dried grains, salt licks, and disinfectants.

“3,740 poultry farmers received eight bags of 50kg maize grains each; and 1,028 pig farmers received palm kernel cake and disinfectants,” he said.

On farmers’ accessibility to loans, Olaleye said government had provided micro loans to 3,501 smallholder farmers with soft loans ranging from ₦50,000 to ₦800,000 per beneficiary.

He said the loans would enable the farmers to expand their operations and improve their livelihoods.

Olaleye also said the infrastructural development programme of the Governor Makinde administration in the last two years had continued to transform agricultural communities.

He said this became a reality through strategic road construction projects totalling 87.53 kilometres across multiple local government areas.

The commissioner said the achievements and many others represented a comprehensive approach to agricultural development that addresses every aspect of the value chain.

He said that all the agricultural programmes had directly impacted tens of thousands of farmers in the state, while building the infrastructure and institutional capacity needed for sustainable agricultural growth in Oyo State.

According to him, all the projects embarked upon and policies implemented by the present administration will ensure sustainable food security in the state.

Olaleye further disclosed that the commitment of the government to the development of the agricultural sector resulted in Oyo being one of the states with the lowest cost of food items in the country.

The commissioner attributed the successes recorded so far by his ministry to the policy direction, financial support and political will of Governor Makinde.

He said the governor created the enabling environment that “allowed us to implement transformative programmes that are directly impacting the lives of our farmers and rural communities.”

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