Ekiti state government signs multi billion naira MOU with Agbeyewa Farms
By Oluwaseyi Lawal
The Ekiti state government has announced that it has signed a significant memorandum of understanding with Agbeyewa Farms Limited, a subsidiary of Cavista Holdings, to undertake extensive cassava cultivation in the state.
This initiative, involving an initial land area of 100,000 hectares, will be facilitated through an out-grower program. Governor Abiodun Oyebanji of Ekiti State and Niyi John Olajide, Chairman of Agbeyewa Farms, formalized the Memorandum of Understanding during the 2024 US-Africa Business Summit in Dallas, USA.
Governor Oyebanji expressed his enthusiasm for this partnership, highlighting the government’s dedication to fostering employment and economic growth. He also encouraged other investors to explore various opportunities in Ekiti State, including tourism, mining, and the emerging Ekiti Knowledge Zone and Special Agriculture Processing Zone.
“I want to thank Agbeyewa Farms and Cavista Holdings for keeping faith in 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 this MOU to the benefit of Ekiti State and Nigeria”.
Additionally, Niyi John Olajide, the Chairman of Agbeyewa Farms, elucidated that besides increasing crop yield for commercial purposes, the Agbeyewa Cassava Revolution Project aims to mitigate post-harvest losses experienced by farmers, which have previously reached up to 50%.
“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”. He said.
Governor Biodun Oyebanji led the delegation from the Ekiti State government at the signing ceremony, accompanied by key officials from his administration. Among them were the Speaker of the Ekiti State House of Assembly, Rt. Hon Adeoye Aribasoye; the Commissioner for Agriculture and Food Security, Mr. Ebenezer Boluwade; the Commissioner for Industry, Trade, and Investment, Mrs. Tayo Adeola; the Commissioner for Finance, Mr. Akin Oyebode; and the Commissioner for Budget, Planning, and Performance Management, Mr. Niyi Adebayo.
Among the Agbeyewa Team were Niyi John Olajide, the Founder and Chairman, along with Managing Director Mr. Dele Odufuye, Chief Financial Officer Mr. Niran Olajide, Mr. Cyril Akika, and Dr. Mima Nedelcovych, who serve as Members of the Board of Directors, alongside other senior management personnel.
Chief Dele Kelvin Oye, President of the Nigeria Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA), and Otunba Bimbo Ashiru, Chairman of Odu’a Investment Company, were also in attendance, along with various stakeholders from both the public and private sectors.
This Memorandum of Understanding signifies a crucial step in Cavista Holdings’ dedication to promoting sustainable economic development and fostering collaborations that benefit communities across Africa. As the company embarks on this cassava revolution, it reaffirms its commitment to creating enduring impact and advancing agricultural innovation not only in Ekiti State but also beyond.
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