Home Business Agric Ekiti govt, Agbeyewa Farms sign multi-billion Naira MoU on cassava project

Ekiti govt, Agbeyewa Farms sign multi-billion Naira MoU on cassava project

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Agbeyewa Farms Limited, a subsidiary of Cavista Holdings, has signed a multi-billion Naira Memorandum of Understanding (MoU) with the Ekiti State Government to cultivate cassava on a large scale in the state. The initial target is 100,000 hectares through an out-grower program.

TheMoU was signed by Governor Abiodun Oyebanji and the Chairman of Agbeyewa Farms, Mr. Niyi John Olajide on the sidelines of the 2024 US-Africa Business Summit, which is  ongoing in Dallas, United States of America.

At the ceremony, the governor expressed his joy and support for Agbeyewa’s expanded investment in the state, emphasising the administration’s commitment to job creation and economic empowerment.

He urged other investors to explore opportunities in the state, particularly in tourism, mining, and the state’s burgeoning knowledge and special agriculture processing zones.

“I want to thank Agbeyewa Farms and Cavista Holdings for keeping faith with our state, which has been demonstrated by their various significant investments. These investments are now success stories and I look forward to the successful implementation of thisMoU to the benefit of Ekiti State and Nigeria”, Oyebanji said.

Olajide explained that in addition to producing more crops for sale the Agbeyewa Cassava Revolution Project would ultimately reduce cases of post-harvest loss for farmers, which has been reported to be up to 50 per cent in previous years.

He said: “Through the Agbeyewa Cassava Revolution to be implemented across Ekiti state, we aim to boost employment, improve food security, and encourage sustainable farming methods. We are very proud of our partnership with the state and driven by my personal goal to create thousands of jobs in the state, we look forward to another successful partnership with the State government under the distinguished leadership of Governor Abiodun Oyebanji”.

Other top state officials at the event included the Speaker of the state House of Assembly, Rt. Hon Adeoye Aribasoye; Commissioner for Agriculture and Food Security, Mr. Ebenezer Boluwade; Commissioner for Industry, Trade and Investment, Mrs. Tayo Adeola; Commissioner for Finance, Mr. Akin Oyebode; and Commissioner for Budget, Planning and Performance Management, Mr. Niyi Adebayo.

On the Agbeyewa team were Olajide; Managing Director, Mr. Dele Odufuye; Chief Financial Officer, Mr. Niran Olajide; Board members, Mr. Cyril Akika and Dr. Mima Nedelcovych, as well as other senior management staff of the company.

Also present were the President of the Nigeria Association of Chambers of Commerce, Industry, Mines, and Agriculture, Chief Dele Kelvin Oye; Chairman of Odu’a Investment Company, Otunba Bimbo Ashiru, and other key stakeholders from the public and private sectors.

The MoU marks a significant milestone in Cavista Holdings’ commitment to driving sustainable economic growth and fostering partnerships that benefit communities across Africa. As the company embarks on this cassava revolution, it reaffirms its dedication to creating lasting impact and advancing agricultural innovation in the state and beyond.

Driven by its vision to become the most successful agro-allied company in Africa, Agbeyewa Farms Limited, a proud member of Cavista Holdings, is leading the charge in agro-allied innovation in Southwest Nigeria, with significant investments in Ekiti State.

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