In a significant move to revitalize agricultural production, the Oyo State Government has approved a substantial investment of ₦3,030,292,472 for the establishment of a comprehensive Cocoa Rejuvenation Project.
Major Boost for Agricultural Sector
According to an official statement released by the State Commissioner for Information, Prince Dotun Oyelade, the State Executive Council gave its approval for this ambitious project during its recent session. The initiative is specifically designed to restore the historical prominence of cocoa production as one of Oyo State's primary economic pillars.
The project will operate through a Public-Private Partnership (PPP) framework and will be jointly coordinated by the Oyo State Agribusiness Development Agency (OYSADA) and the International Institute of Tropical Agriculture (IITA). This collaborative approach ensures both local expertise and international best practices will guide the project's implementation.
Strategic Timing for Global Market Entry
Prince Oyelade emphasized that the state government is pursuing this initiative because Oyo State currently ranks fourth among Nigeria's 18 cocoa-producing states in terms of production output. The commissioner highlighted the strategic importance of the timing, noting that the state is proactively seizing opportunities created by production disruptions in major cocoa-producing nations like Ghana and Côte d'Ivoire.
"It is the intention of Oyo State to fill the supply void as a result of the production problems facing the West African countries," Oyelade stated. The total project cost is estimated at $2,075,547, which will be disbursed in three tranches over the coming three years.
Additional Council Approvals and Security Measures
The State Executive Council meeting also addressed several other critical matters. The council expressed strong support for the South West Governors' collective call for State Police, observing that the declining enthusiasm among Nigerian youth to join military service makes the establishment of localized policing systems increasingly urgent.
The council particularly commended Governor Seyi Makinde's foresight in acquiring two surveillance aircraft for the state's security apparatus. These aircraft will enhance the capability to track and monitor movements in potentially dangerous areas. The council also acknowledged the continued support for Amotekun, which has developed into the best-staffed and equipped security outfit in South West Nigeria.
Healthcare and Infrastructure Developments
In another significant decision, the council approved a €50 million loan from the French Government for the Oyo State Health Care Initiative. This funding arrangement, initiated approximately three years ago, received final approval from the Federal Ministry of Finance in a letter dated November 10, 2025.
The loan is specifically designated for infrastructural upgrades and equipping state hospitals, among other healthcare improvement purposes. The State House of Assembly has already granted its approval, enabling the state government to access these crucial funds.
Water, Sanitation and Climate Action Initiatives
The council also gave its approval to the Oyo State Water, Sanitation and Hygiene (WASH) Policy. This policy approval will unlock significant financial opportunities, allowing the state to access funding from the Federal Government, the World Bank, the African Development Bank, and various international partners.
Prince Oyelade explained that the primary objective of the WASH fund is to eliminate open defecation, achieve universal access to safely managed sanitation facilities, and integrate comprehensive hygiene promotion programs into local communities.
Additionally, the council approved the establishment of the Oyo State Climate Action Plans and Policies, which will facilitate the engagement of a Green Energy Agency. This approval authorizes the hiring of a specialized agency to implement environmental policies, backed by a ₦270 million guarantee from a reputable financial institution.
The council further endorsed the Business Enabling Reforms Action Plan for 2026, a mandatory requirement for state participation in the State Action on Business Enabling Reforms (SABER) program. To meet the eligibility criteria, the council approved ₦400 million as implementation costs for these business-friendly reforms.
