Over 8,000 farmers benefit as Oyo attracts $170m in agribusiness

By Adejayan Gbenga –

The Oyo State Government has attracted $170 million in investments through the Fashola Agribusiness Hub, originally established by former Western Region Premier, Chief Obafemi Awolowo, and recently upgraded by Governor Seyi Makinde.

Commissioner for Agriculture and Rural Development, Barrister Olasunkanmi Olaleye, disclosed this at a press briefing on the ministry’s key achievements and impact reports held at the Governor’s Office in Ibadan.

According to Olaleye, the state’s focus on agribusiness and the development of farm estates has significantly contributed to the investment inflow.

He noted that the Fashola Agribusiness Hub now hosts high-calibre business ventures, adding that the level of investment at the hub is a strong endorsement of the government’s efforts.

The commissioner highlighted the presence of major processing companies at the hub, including those that process cassava into cassava sugar and others focused on cashew processing.

He also revealed that the estate includes a dairy farming initiative, with a company rearing cattle specifically for milk production.

Olaleye said over 8,000 smallholder farmers have been integrated into these agribusiness operations as growers supporting the companies.

This integration, he explained, has not only provided jobs for the farmers but also secured a ready market for their produce.