Oyo state has attracted ₦46.6 billion in agribusiness investments and supported over 46,000 smallholder farmers under the leadership of Governor Seyi Makinde.
The state has made a lot of progress in expanding its capacity in food production, processing, and export.
At a recent Omituntun 2.0 Inter-Ministerial Briefing in Ibadan, Director-General of the Oyo State Agribusiness Development Agency (OYSADA) and Executive Adviser to the Governor on Agribusiness and International Cooperation, Dr. Debo Akande, shared the latest achievements and what lies ahead.
Governor Makinde’s strategy to grow the Oyo state’s economy through agriculture is yielding visible results with $170 million in agribusiness and development funding, and 14 large processing companies are now operational in the sector.
“This is what you call agribusiness,” said Dr. Akande, referring to Fasola Agribusiness Hub. “And that is what you have in Fasola.”
The Fasola Agribusiness Hub, has attracted ₦17 billion in private investment, cultivated 950 hectares of farmland, and integrated 8,200 smallholder farmers into its supply chain.
Fourteen companies are already working within the hub, some grow and process crops like cashew, cassava, and tomatoes, others manage equipment leasing and logistics while one has launched greenhouse tomato farming, producing high-quality tomatoes year-round.
“All the tomatoes I have been using for the last year, I have been buying at Fasola,” said Akande.
“This shows we can grow food all year, not just in rainy seasons. We now have a model that works.”
The state isn’t stopping with Fasola. Ijaiye is next, with a mega agribusiness industrial hub already in the pipeline, supported by the African Development Bank (AfDB).
The Ijaiye Hub will host over 40 industries, with seven companies already signed up.
Meanwhile, Eruwa will follow Fasola’s model with about 10 agribusinesses focused on crop processing and value addition.
Akande stated: “We predict that, subsequently, similar hubs will be built in Oke-Ogun 1, Oke-Ogun 2, and Ogbomoso based on their unique crops.”
Through OYSADA and other state-led efforts, 5,020 youths have been trained in agribusiness, and 1,000 young entrepreneurs will soon access ₦1.5 billion in support, thanks to a partnership between the state and First City Monument Bank (FCMB)
This initiative will also benefit women and smallholders in the development plans.
Oyo State has entered into a partnership with Rungis-Semmaris, a leading French wholesale food company to address the issue of farmers earning little while others profit from their hard work.
Together, they will build a produce wholesale market in Ijaiye.
“Right now, farm produce leaves the state in large quantities, but we see little gain. This market will change that,” said Akande.
“Industrialisation starts with agricultural industrialisation,” Akande concluded.
“Oyo State is on its way to becoming a national leader in agribusiness.”
