• Thursday, May 30, 2024
businessday logo

BusinessDay

Ekiti State University empowers agro-tech enterprises with N1bn fund

Ekiti State University empowers agro-tech enterprises with N1bn fund

Tunji Olowolafe, chancellor of Ekiti State University, has announced the launch of a N1 billion innovation fund aimed at empowering agro-tech enterprises.

Olowolafe unveiled the initiative at the 28th convocation of the Ekiti State University, which took place on April 3-4, 2024, according to a statement.

He highlighted the urgent need to drive innovation and enterprise in agriculture to bolster food security across Nigeria which is the potential for innovation and inclusive growth within local agricultural communities.

“Agriculture stands as the backbone of our nation, and it is here that I see the greatest potential for innovation and economic prosperity. The N1 billion innovation fund is designed to empower agro-tech companies founded by present graduates and students of our great Ekiti State University,” he said.

The chancellor urged students and academics to actively engage in food production efforts as he proposed the optimisation of the university’s fertile lands for agricultural purposes, enabling students to lease small plots and gain hands-on experience in farming, while simultaneously earning a living.

“Today Your Excellency, the general discussion in Nigeria is about cost of living and food security. All of us eat. But many of us do not think about what we eat, how it is produced, and how it gets to our table. These are very important questions.

“My view is regardless of what we are studying at university, we must all think about how we can do our bit to produce food. This means both the academic and student faculties must come together to think and act,” he added.