Ekiti’s N50bn Investment In Agribusiness Yielding Results, Says Oyebanji

Ekiti State governor Biodun Oyebanji disclosed that his government has spent over N50 billion in agribusiness since its inception. He says his vision is to turn the state into the nation’s food basket.
The governor reiterated his administration’s determination to ensure unbridled distribution chains of major food items to the state’s citizens all year round. He said they hope to achieve that through a food supply system and mechanism that will ensure food security and improve access to cheap food commodities.

He disclosed this during the official commissioning of ‘Ounje Ekiti Retail Outlet’ and ‘Ilu Eye Aggregation Hub’ in Ado-Ekiti, the State capital.

Governor Oyebanji added that his administration’s primary concern is fulfilling President Bola Tinubu’s mandate on the urgent need to grow the state out of hunger and poverty by ensuring that all food items consumed in Ekiti are produced within the State.

The Ilu Eye Aggregation Hub, a registered company, buys food commodities from farmers in the state and stores, while the “Ounje Ekiti Retail Outlet” is to sell the food items to citizens at affordable prices.
The Governor said the initiative is a strategic step towards addressing persistent challenges in the agriculture sector, reducing adverse losses in adequate food storage and inefficient market leakages.

He added that the effort was part of the recommendation of the Ekiti State Food Security Committee, which was constituted to improve food supplies in the state.

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According to him, “The initiative is aimed at strengthening the food supply system, ensuring food security, and improving access to affordable food for residents of Ekiti State. Establishing Ilu Eye Agro-Trading and Aggregation Company Limited is a strategic step towards addressing persistent challenges in the agricultural sector, particularly post-harvest losses, inadequate food storage and inefficient market linkages.

“This initiative is a direct outcome of the recommendation of the Ekiti State Food Security Committee, which was constituted under the leadership of the Honourable Commissioner for Agriculture and Food Security. I wish to express my sincere appreciation to the Chairman and all members of the Food Security Committee for their diligence and professionalism in translating our vision into actionable outcomes. I’m also pleased to report that as of today, August 6, 2025, the Ilu Eye Aggregation Hubs have successfully aggregated the following food commodities from local producers and cooperatives within the state. They bought 715 metric tons of white beans, 239.167 metric tons of rice paddy, 101.54 metric tons of maize and 1,716 bags of garri, all produced within Ekiti.’’

“This level of aggregation is a testament to the productive capacity of our farmers when supported with the right policies, infrastructure, and market assurance. It also marks a significant milestone in our efforts to reduce post-harvest losses and reposition agriculture as a viable economic pillar for the state, “ he stated.

Governor Oyebanji, however, noted that the retail outlet will only serve households for their basic food intake at affordable prices. He emphasised that the intervention is structured to ensure equitable access, strict control on the quantity of purchases per individual, zero tolerance for hoarding or diversion, and prevention of unbilled profit sharing and the re-emergence of middlemen within the supply chain.

Earlier, the Commissioner for Agriculture and Food Security, Mr Ebenezer Boluwade, commended Governor Oyebanji for his efforts to ignite development in the State, especially in the agriculture sector.

He added that the two projects being commissioned signified the state’s journey to an affordable food system, as the initiative would encourage farmers who now have ready markets for all their commodities.

Also, the Commissioner for Finance and Economic Development, Mr Akintunde Oyebode, commended Governor Oyebanji for placing a high premium on agriculture development, which speaks to the Governor’s commitment to shared prosperity.