Chinese Investors’ $500m Deal Validates Makinde’s Interest In Agribusiness – DG

Director-general of the Oyo State Agribusiness Development Agency (OYSADA), Dr. Debo Akande, has linked the recent visit of Chinese investors to some potential agribusiness sites in the state to Governor Seyi Makinde’s proactiveness and commitment to agribusiness development.

The Chinese investors came to the state proposing an initial $500 million commitment to agribusiness.
The high-powered delegation from the China Overseas Engineering Corporation (COVEC), headed by Ms Dong Guoping, was brought to the State by the Nigeria Investment Promotion Commission (NIPC), led by Mr Abubakar Yerima, director, Strategy Services, who represented the executive secretary/CEO of NIPC, Ms Aisha Rimi.
Governor Seyi Makinde hosted the investors, who noted that investments in agribusiness development and value chains are part of his vision for expanding the state’s economy and attracting more investors.
Makinde, who spoke through the deputy governor, Abdulraheem Lawal, maintained that the state had a comparative advantage in agriculture and invested in enablers such as infrastructure and security.

He called on Chinese investors to partner with the state government to guarantee food security, boost agricultural productivity, and make the state a hub for agro-industrial processing. This, he noted, would generate thousands of employment opportunities and improve revenue.

He assured the government would provide an enabling environment to support the investors’ vision of partnering with the state.

Speaking with journalists about the Chinese investors’ visit to the state, Akande described the partnership as a critical step toward realising the state’s Agribusiness Roadmap.

He highlighted the synergy between the state’s infrastructure drive, such as the Ibadan Circular Road and Lagos-Ibadan rail line, the ongoing upgrade of the Ibadan Airport, and the requirements of the incoming investors.

He said, “This collaboration brings in the capital, knowledge, and innovation we need to scale our existing agribusiness projects and attract further private sector investments. We’re also improving rural access with 1,200 roads under the World Bank’s RAAMP project, including access to key agricultural locations”.