The governor stated this on Monday during an on-the-spot inspection tour of the Farm Settlement as well as the inspection of Kartlos Farms Limited, located inside the Akufo Farm settlement.

According to a statement signed by the Chief Press Secretary to the governor, Mr. Taiwo Adisa, quoted Governor Makinde as stating that his administration is working round the clock to make commercial agriculture the backbone of the state’s economy by upgrading some farm settlements in the state to Agricultural Estates.

The governor said: “Agriculture is where we think we have comparative advantage and we are looking at agro-processing to expand our economy. This place used to be a farm settlement but we are upgrading it to a farm estate.

“People are already there, so we came to find out, first hand, what is really going on here and how things can be done meaningfully in a way that it can drive the economic expansion agenda of our government.”

Governor Makinde stated that the state government was ready to partner private sector to expand the economy of the state in line with one of the four cardinal points of his government’s service agenda.

He also stated that his administration will incorporate other stakeholders to harness the benefits for the local market and export.

He explained that a private farm has been using the facility in Akufo Farm Settlement to produce tomato and pepper through a greenhouse farming approach.

The governor, who expressed delight at how Oyo State has been designated as one of the beneficiaries of the African Development Bank (AfDB) agro-processing zone projects, said the development would be leveraged upon to fulfil local demand.

He said: “Oyo State has also been designated as one of the beneficiaries of the African Development Bank agro-processing zone projects. So, we will first look at how we can fulfil the local demand. After that, we will also look at processing for export.

“So, I am super-excited about the possibilities in this place.”

Speaking earlier, the Executive Adviser to the governor on Agribusiness, Dr. Debo Akande, said that the trip was aimed at conducting a field assessment of the current state of the Akufo Farm Settlement before the commencement of the development and upgrade to an agricultural estate.

He added that the state government decided to visit the farm to see its natural state before the commencement of the developmental projects.

The post Makinde reiterates commitment towards expanding Oyo economy, set to upgrade Akufo farm settlement first appeared on MegaIcon Magazine.

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The governor disclosed this during the signing ceremony  of  OYSADA bill  which took place at the Government House, Agodi, Ibadan, the state capital.

He emphasized that the signing of the Agency bill into law would allow the Agency, which is based in Saki, to start work fully and to kickstart the operation of the Farm Estates’ projects in Eruwa in Ibarapa axis and Akufo, Ibadan.

The Oyo State House of Assembly had earlier approved the request of Governor Seyi Makinde to access N7.6 billion agricultural loan from the Central Bank of Nigeria (CBN.) around October 2019.

Meanwhile, the governor had requested to access the loan to develop Akufo and Eruwa farm settlements into farm estates in the state.

Speaking further at the event, Governor Makinde said: “I have just signed the law to make provision for the establishment, composition and powers of the Oyo State Agribusiness Agency and every other matters connected therewith.

“Agribusiness is one of the cardinal programmes of this administration and what we have done today is to give a legal backing to Oyo State Agribusiness Development Agency.

“With the signing into law of the Agency bill, they are now free to start business as OYSADA. They will be based in Saki and they will be starting the first two projects as soon as possible. The first is the Farm Estate at Eruwa and the second is the farm estate at Akufo. So, I thank you for coming to witness this signing ceremony”.

In a statement signed by the governor’s media aide, Taiwo Adisa,  Makinde  informed that the state government decided to sign off on the bill at this critical time in readiness for the expected boom in its economy through the derivable benefits from agribusiness initiatives.

Giving further insights into the advantages the state stands to gain from the Agency, the governor said: “The agency aims to develop the strategy, coordinate, and implement Agribusiness Investments and projects in the State through public, private and development partnerships.

“It will also enhance the optimisation of agro-food value chain business within Oyo state through an agricultural ecosystem that strengthens productivity, value chain growth and the processing and packaging of agro-based production.

“The Agency will support the State’s economic growth through engagement in domestic trade in agro-food by import substitution and exportation of nutritious processed and package agro-based products.

“Another benefit derivable from the Agency is that it will promote engagement of youth in agriculture through the development of agribusiness enterprises from downstream, midstream to the upstream of the agricultural sector.”

The post N7.6bn CBN Loan: Makinde Set to Begin Work On Akufo, Eruwa Farm Estate Projects first appeared on MegaIcon Magazine.

The post N7.6bn CBN Loan: Makinde Set to Begin Work On Akufo, Eruwa Farm Estate Projects appeared first on MegaIcon Magazine.