Ekiti Attracts $40m Investment in Organic Fertiliser Project

Gbenga Sodeinde in Ado Ekiti

The Ekiti State Governor, Mr Biodun Oyebanji, has announced plans to establish a $40 million organic fertiliser factory in the state, stressing that his administration would continue to woo investors to the state in a bid to position it as a major industrial hub in the country.

Oyebanji disclosed this in Ado-Ekiti  during a meeting with officials from Istanbul, Turkey- based Alliance Group.

He described the project as capable of boosting employment, food production and agribusiness in the state, saying his administration would continue to collaborate with institutions, development agencies and private sector players.

The governor affirmed the key role agriculture plays in the lives of the people, stressing that the only way out of the present economic doldrums in the country  is to increase and improve productivity.

“We came on board of the mantra of shared prosperity and continuity and agriculture is so key for us as a people. We have challenges in the country today because of lack of productivity because if a people must prosper, they have to produce.

“Productivity is key to prosperity and government cannot be in the forefront of that, the only thing government can do is to look for serious private investors and partner with them to ensure productivity,” he added.

Speaking further,  Oyebanji said the state had put measures in place for ease of doing business and to safeguard investments in the state,  adding that his administration would continue to strengthen and sustain partnerships on projects that are relevant to the development objectives of government.

“Your concept of establishing an organic fertiliser factory in Ekiti state is a welcome development to us as a government, and to drive our investment portfolio, we have Investment Promotion Agency (IPA) headed by a professional and this is aimed at improving ease of doing business in the state.

“On this, we have structures, we have institutions, we have laws that safeguard investments in this state. We will also ensure that all obstacles towards doing business is remove,” he stated.

Earlier, the leader of the delegation, Prof. Sidi Oso, said the organisation was identifying regions in Africa, particularly Nigeria, looking for states with economic prospects and potential for development in the area of investment

Oso added that the organisation had concluded plans to set up an organic fertiliser factory in the state.

While stressing that Ekiti has the necessary raw materials in the areas of water bodies and lakes to boost massive production of fertiliser, Oso commended the governor for having a team of professionals.

The professor stressed that the project would bring in about $40 million aimed at unlocking the employment and investment opportunities in the state coming in as agriculture-water based fertiliser project.

Also at the meeting were the Director-General of Ekiti Development and Investment Promotion Agency (EKDIPA), Mrs Lolade Olutola and other government officials.