The Oyo State Government has announced a major milestone in its agribusiness development efforts, confirming that the sector has attracted $170 million in investments over the past two years.

This was revealed by the Commissioner for Agriculture and Rural Development, Mr. Olasunkanmi Olaleye, on Thursday during the first inter-ministerial news briefing at the Governor’s Office in Agodi, Ibadan.

He highlighted the establishment of the Fashola Agribusiness Hub in Oyo as evidence of the government’s dedication to utilising agriculture for economic growth and development.

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

He added that the $170 million investment would also create jobs for many people.

Highlighting his ministry’s achievements in the last two years, the commissioner said that at least 10,210 farmers have been supported with seedlings and other inputs.

He said the seedling distribution programme benefited 3,541 maize farmers and 920 soybean farmers.

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 tonnes of cassava tubers.”

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

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

“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.

Commissioner Olaleye highlighted the government’s commitment to agricultural development in Oyo State through various initiatives. 

A significant focus has been on improving farmers’ access to finance, with microloans ranging from N50,000 to N800,000 disbursed to 3,501 smallholder farmers. These soft loans are designed to facilitate the expansion of farming operations and enhance livelihoods.

Furthermore, the government’s rural infrastructure development program has been instrumental in transforming agricultural communities over the past two years. 

This has been achieved through strategic road construction projects, encompassing 87.53 kilometres across multiple local governments.

Olaleye emphasised that these achievements, among others, underscore a comprehensive approach to agricultural development that addresses every value chain segment. 

These agricultural programs have benefited tens of thousands of farmers in the state while simultaneously building the essential infrastructure and institutional capacity required for sustainable agricultural growth in Oyo State.

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