• Thursday, May 23, 2024
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BusinessDay

Oyo, SMEDAN kick off agro-based OLOP project

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About 90 processors who formed themselves into cooperatives are to participate in the Oyo State agro-based – One Local government One Product (0LOP) scheme.

The processors, 10 from the cooperative societies in the nine local government areas participating in the scheme, will trained by Small and Medium Enterprises Development Agency (SMEDAN) and Japanese International Corporation Agency (JICA).

Nine local governments had been earmarked to take part in the first phase of the scheme.

The OLOP concept, which is to adapt a particular product (agro based) where the local government area has comparative advantage over others and develop its value chain potentials, has Atisbo Local Government for sheabutter, Oriire – tomatoes, Itesiwaju – black soap, Ido – cassava, Ibarapa Central – melon, Ibadan South West – cassava, Atiba – local rice, Oyo East – palm product, and Surulere – palm product.

The scheme, to be funded by Bank of Industry (BoI) in partnership with SMEDAN and JICA, it was learnt SMEDAN would commence mobilisation and training next week.

While SMEDAN and JICA will provide capacity building and technical support for the scheme, they are also to identify markets within and outside the country for finished products.

The chosen local councils had earlier provided clusters for the agro-products, land, roads, boreholes and factory sheds for the smooth take-off of the scheme.

To deepen relationship as well as promote SMEs in the state, Moses Adeyemo-Alake, the state deputy governor, met with director-general of SMEDAN, Bature Musa.

The meeting concretised modalities for the implementation of the National Enterpreneurship Development Program of SMEDAN, which falls under the OLOP scheme.

Commenting on the programme, Folakemi Akinleye, special adviser and head, Bureau of Investment Promotion and Public Private Partnerships, said the scheme would create employment and grow the state economy.

REMI FEYISIPO