OYSADA Boosts Agribusiness with N46.6bn Investments, Supports 46,000 Farmers
By Adewale Owoade
The Director-General of the Oyo State Agribusiness Development Agency (OYSADA), Dr. Debo Akande, has announced that the state government has attracted N46.6 billion investments into agribusiness, supporting 46,000 smallholder farmers.
Dr. Akande made this announcement at the Omituntun 2.0 Inter-Ministerial Briefing in Ibadan, highlighting the state’s achievements in the agriculture and agribusiness sector.
These include: accessing close to $170 million in agribusiness and international development funds, attracting 14 large processing companies to the state’s agribusiness space, developing agriculture enablers such as industrial hubs, roads, and rural security.
Also Creating a framework for Livestock Value Chain and constructing a Livestock Transformation Centre, training 5,020 youths in agribusiness, with 1,000 set to benefit from a N1.5 billion support initiative
Dr. Akande also highlighted the development of agribusiness hubs, including the Fasola Agribusiness Hub, which has attracted close to N17 billion investments from 14 new agribusiness companies. The hub has also integrated 8,200 smallholder farmers into its supply chain.
The OYSADA DG announced plans to construct another mega agribusiness hub in Ijaiye, which will feature over 40 industries. He also mentioned the construction of a produce wholesale market in Ijaiye, which will serve as a convergence point for agricultural produce from across the state.
Dr. Akande emphasised that the state’s focus on agribusiness will stimulate economic growth, stabilize food costs, and increase the state’s revenue.
He noted that the partnership with France-based Rungis-Semmaris will culminate in the construction of the wholesale market, which will benefit the state’s farmers and economy.
Dr Akande attended the inter-ministerial briefing alongside the OYSADA Permanent Secretary, Mr Badmus Kolawole and Mr Kola Kazeem, State Coordinator, L-PRES.
