Enimere Àkànbí
The Oyo State Government has announced plans to restore the glory of cocoa production as a major economic pillar, approving ₦3,030,292,472 for the establishment of a Cocoa Rejuvenation Project.
The project, to be driven through a Public-Private Partnership (PPP), will be coordinated by the Oyo State Agribusiness Development Agency (OYSADA) and the International Institute of Tropical Agriculture (IITA).
According to the Commissioner for Information, Prince Dotun Oyelade, the project aims to capitalize on the disruptions in cocoa production in major producing countries like Ghana and Côte d’Ivoire.
The project will be funded in three tranches over the next three years, with a total cost of $2,075,547.
In other developments, the State Executive Council has backed the South West Governors’ call for State Police, citing the need for domestic policing due to the lack of enthusiasm among youths to join the military.
The Council also lauded Governor Seyi Makinde’s efforts to enhance state security, including the procurement of two surveillance aircraft and support for Amotekun.
Additionally, the Council approved a €50 million loan from the French Government for the Oyo State Health Care Initiative, which will be used for infrastructural upgrades and equipping state hospitals.
The Council also approved the Oyo State Water, Sanitation and Hygiene (WASH) Policy, which will unlock financial opportunities and enable the state to access funds from international partners.
Other approvals include the establishment of the Oyo State Climate Action Plans and Policies, which will allow for the engagement of a Green Energy Agency, and the Business Enabling Reforms Action Plan for 2026. The Council also approved ₦400 million for the implementation of the plan.
Ọ̀yọ́ Gov’t. Approves ₦3.03 Billion For Cocoa Production Revitalization
Leave a Reply