Cassava Revolution: Agbeyewa Farms Signs Multi-Billion Naira MOU with Ekiti State Government

Agbeyewa Farms Limited (a subsidiary of Cavista Holdings) has signed a multi-billion-naira Memorandum of Understanding (MOU) with the Ekiti State Government to cultivate cassava on a large scale in the state (with an initial target of 100,000 hectares) through an out-grower program.  

The MOU was signed by Governor AbiodunOyebanji of Ekiti State and the Chairman of Agbeyewa Farms, Niyi John Olajide on the sidelines of the 2024 US-Africa Business Summit currently ongoing in Dallas, USA. 

Speaking at the ceremony, Governor Oyebanji expressed his joy and support for Agbeyewa’sexpanded investment in Ekiti State, emphasizing the administration’s commitment to job creation and economic empowerment. He urged other investors to explore opportunities in Ekiti State, particularly in tourism, mining, and the burgeoning Ekiti Knowledge Zone and Special Agriculture Processing Zone.

“I want to thank Agbeyewa Farms and Cavista Holdings for keeping faith in our state, which has been demonstrated by their various significant investments. These investments are now success stories and I look forward to the successful implementation of this MOU to the benefit of Ekiti State and Nigeria”.

Also speaking, the Chairman of Agbeyewa Farms, Niyi John Olajide explained that in addition to producing more crops for sale, The Agbeyewa Cassava Revolution Project will ultimately reduce cases of post-harvest loss for farmers, which has been reported to be up to 50% in previous years. 

“Through the Agbeyewa Cassava Revolution to be implemented across Ekiti state, we aim to boost employment, improve food security, and encourage sustainable farming methods. We are very proud of our partnership with the state and driven by my personal goal to create thousands of jobs in the state, we look forward to another successful partnership with the State government under the distinguished leadership of Governor Abiodun Oyebanji”. He said.

The Ekiti State government was represented at the signing ceremony by Governor Biodun Oyebanji, alongside top officials from his administration, such as the Speaker, Ekiti State House of Assembly, Rt. Hon Adeoye Aribasoye; Commissioner for Agriculture and Food Security, Mr. Ebenezer Boluwade; Commissioner for Industry, Trade and Investment, Mrs. Tayo Adeola; Commissioner for Finance, Mr. Akin Oyebode; and Commissioner for Budget, Planning and Performance Management, Mr. Niyi Adebayo. 

On the Agbeyewa Team were the Company’s Founder and Chairman, Niyi John Olajide, Managing Director, Mr. Dele Odufuye, Chief Financial Officer, Mr. Niran Olajide, Mr. Cyril Akika and Dr. Mima Nedelcovych (Members of the Board of Directors), as well as other senior management staff of the company. 

Also present at the signing ceremony were Chief Dele Kelvin Oye, President of the Nigeria Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA), the Chairman, Odu’a Investment Company, Otunba Bimbo Ashiru as well as other key stakeholders from the public and private sectors.

The MOU marks a significant milestone in Cavista Holdings’ commitment to driving sustainable economic growth and fostering partnerships that benefit communities across Africa. As the company embarks on this cassava revolution, it reaffirms its dedication to creating lasting impact and advancing agricultural innovation in Ekiti State and beyond.