BusinessDay
Nigeria's leading finance and market intelligence news report.

Makinde signs Oyo State Agribusiness Development Agency Bill into law

Governor, Seyi Makinde, recently signed the Oyo State Agribusiness Development Agency (OYSADA) Bill into law.

“I have just signed the law to make provision for the establishment, composition, and powers of the Oyo State Agribusiness Agency and every other matter connected therewith,” Makinde said after signing the bill into law.

“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,” he added.

He said that the signing of the agency bill into law would allow the agency which is based in Saki, to start work fully and to kick-start the operation of the farm estates projects in Eruwa in Ibarapa axis and Akufo, Ibadan.

“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,” the governor said.

Makinde said that the state 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 New bill, the governor said the agency aims to develop a strategy to coordinate and implement agribusiness investments and projects in the state through public, private and development partnerships.

“This will 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,” he said.

According to him, 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.

A statement signed Taiwo Adisa, chief press secretary to the governor, quoted the governor as saying that.

“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.”

Debo Akande, executive adviser to the Governor on Agribusiness, who also spoke on the signing of the bill into a law said it was meant to put in motion the plan of the state with regards to developing its agribusiness sector.

“Agriculture, as we have known for a very long time, has been practiced in this state but practiced differently,” Akande said.

“So, our grandfathers and grandmothers have done their best in a way that we know agriculture should be done. But now, there are modern approaches that need to be adopted in agricultural practices,” he added.

 

REMI FEYISIPO, Ibadan

 

Whatsapp mobile

Get real time updates directly on you device, subscribe now.

Comments are closed.