Ibadan: Agribusiness has attracted a significant $170 million investment into Oyo State, as revealed by the Oyo State Commissioner for Agriculture and Rural Development, Mr. Olasunkanmi Olaleye. This announcement was made during the maiden edition of an inter-ministerial news briefing on government activities over the past two years, held at the Governor’s Office in Agodi, Ibadan.
According to News Agency of Nigeria, the commissioner highlighted that the establishment of the Fashola Agribusiness Hub in Oyo demonstrates the government’s commitment to using agriculture as a key driver for economic growth and development. He noted that the investment is expected to integrate over 8,000 smallholder farmers due to the extensive reach of the agribusiness companies at the hub, and will also lead to job creation for many individuals in the state.
Olaleye further detailed the achievements of his ministry over the last two years, mentioning that more than 10,210 farmers have received support in the form of seedlings and other essential inputs. Specifically, 3,541 maize farmers and 920 soybean farmers benefited from the seedling distribution programme, while high-yield cassava stems were provided to 1,269 farmers, potentially covering 47,587.5 acres for cassava tuber production.
In addition, knapsack sprayers, herbicides, and pesticides were distributed to 1,980 and 2,500 farmers respectively. The government also supported 8,464 livestock and aquaculture farmers with quality feed and other necessary inputs. This included providing 1,150 fish farmers with quality fish feed, nutritional supplements to 2,536 cattle, sheep, and goat farmers, and inputs like maize grains and palm kernel cake to poultry and pig farmers.
Olaleye emphasized the importance of financial support, noting that the government has facilitated micro loans for 3,501 smallholder farmers, with loan amounts ranging from N50,000 to N800,000 per beneficiary. These loans aim to help farmers expand their operations and improve their livelihoods.
The commissioner also spoke about the government’s rural infrastructure development programme, which has significantly transformed agricultural communities through strategic road construction projects totaling 87.53 kilometers across various local governments. He concluded by stating that these efforts represent a comprehensive approach to agricultural development, impacting tens of thousands of farmers in Oyo State and building the infrastructure and institutional capacity for sustainable agricultural growth.