Oyo invests ₦850m in sugar production, funds state-owned varsity with ₦500m

…beefs up security with the provision of 49 vehicles

As part of efforts to boost sugar production through a dedicated sugarcane plantation, sugar processing and production, the Oyo State Government has approved N850 million as a booster to its investment in Oyo Sugarcane Processors Limited located in Iseyin.

Speaking shortly after the State Executive Council held in Ibadan, the State Capital on Tuesday, Dotun Oyelade, Commissioner for Information noted that the approved ₦850million investment in the Oyo Sugarcane Processors Limited, Iseyin through the State-owned Pacesetter Holdings Limited, would bring the total investment in the sugar plant to ₦4.9billion, saying the plant was at 90% completion.

The Commissioner said that by investing in the project, the State’s economy would be stimulated with the injection of 3,000 direct and indirect job opportunities, adding that the sugar plant would be completed next year.

The State Government through the State Executive Council also increased the number of patrol vehicles for Operation Burst to 60 with the procurement of 40 additional security vehicles for the Security Agency.

Read also: We remain committed to boosting sugar production – NSDC

Oyelade, while addressing journalists after the Executive Council Meeting, said that other security arms like the Army, the Police, and Civil Defence, among others, were also given additional vehicles.

He noted that already, Oyo State Amotekun has the largest number of Security vehicles with 150 for its operations, the largest number of personnel of about 2,000 and the best paid in Southwest Nigeria.

Similarly, Saliu Adelabu, Commissioner for Education, Science and Technology, said that the State Executive Council had approved N500 million as a capital grant for Abiola Ajimobi Technical University, Ibadan.

Adelabu said the ₦500 million grant would aid the accreditation of the Institution’s new and old programmes for the 2024/2025 academic session by the National Universities Commission (NUC).

The Commissioner for Education further stated that the State Government had approved over ₦900million as a counterpart fund to partner with the World Bank which had earlier donated ₦ 1 billion to the State through the Better Education Service Delivery For All, (BESDA).