Oyo Govt Approves Over N35bn for Agriculture, Others
The Oyo State Government has unveiled a fresh round of multi-billion naira intervention in the agriculture sector, among others.
Prince Dotun Oyelade, the state Commissioner for Information and Civic Orientation, disclosed this in a statement on Thursday in Ibadan.
Oyelade said the approvals were targeted at strengthening agro-industrialisation, road infrastructure, health facilities, and repositioning sports in the state.
According to him, the council meeting approved an interest-free strategic loan of N3billion for an indigenous cassava-processing factory in Ado-Awaye in Iseyin Local Government Area (LGA)
He said the factory, which produces cassava flour and other derivatives, would directly benefit over 25,000 farmers, generate employment, and consolidate the state’s status as a leading cassava producing state.
He added that the council also moved to fast-track the take-off of the Oyo Sugar and Derivatives Industries Limited in Iseyin town, with the approval of N2.4billion as additional equity investment.
He recalled that N850 million had earlier been released as government equity to revitalise the sugar factory.
He noted that the sugar project was listed among the state’s key industrialisation drives to add value to farm produce, create jobs, and boost internally generated revenue.
On infrastructure, the commissioner said the council also approved N2.9billion for the construction of the 4-kilometre Idi-Igba/Akinmorin road in Ilora in Oyo zone.
He explained that the approval was premised on the expected socio-economic impact of the road on residents and businesses.
“The council also approved an additional N26.7billion for the ongoing upgrade of the Samuel Ladoke Akintola Airport, Alakia Ibadan.
“The funds will cover revised works under the updated Bill of Engineering Measurement and Evaluation, including a 140-metre strip, runway safety area, blast pad, extra pipe covers and other ancillary components. He stated.
Oyelade further disclosed that the council approved a Healthcare Initiative Project to be funded with a €55 million loan facility from France, guaranteed by the Federal Government.
According to him, the project will deliver modular construction and equipping of hospitals across the state.
The commissioner also announced that N200 million was approved as a take-off grant for Shooting Stars Sports Club (3SC), aimed at rekindling the glory of the state football club.
He maintained that the support was to aid the club’s quest to return to continental competitions, a feat it has not achieved in 27 years.
Oyelade reiterated that these approvals reflect the state government’s commitment to inclusive development, economic growth, and improved welfare for the people of the state. #Oyo Govt Approves Over N35bn for Agriculture, Others#
