Home News Dangote, Stallion, others boost Ekiti Agric sector with $50m investments

Dangote, Stallion, others boost Ekiti Agric sector with $50m investments


Ariwodola Idowu

Ado Ekiti – Ekiti State Government, said it had issued a Certificate of Occupancy (C of O) to Stallion Group for a 10 million dollars rice mill in Ado-Ekiti, the state capital.

It said Dangote Group is also finalising plans to locate a five million dollars mill within the same location.

Mr Akintunde Oyebode, Special Adviser to the Governor on Investment, Trade and Innovations, made this known in a statement to newsmen in Ado Ekiti on Wednesday.

He explained that the investments were results of the government’s focus on building an enabling environment for businesses to thrive.

Oyebode said that government’s drive to attract investment to the state had also attracted other investors who had finalised plans to site their production facilities in the State.

“In the cassava value chain, FMS Farms is finalising plans to set up a 10 million dollars Starch Processing Plant and Farm in Ikole Local Government Area and has already commenced farming activities.

“In addition, Promise Point has also invested 15 million dollars in its Starch Processing facility within the same area which has also been designated as part of the Special Agro-Industrial Processing Zone.

“This is coming after a 5 million dollars investment by Promasidor, to renovate and operate the moribund Ikun Dairy Farm, and another 5 million dollars investment by JMK Foods to build a rice mill in Ekiti State,’’ he said.

Oyebode said many of the investors only had to deal with the Ekiti State Development and Investment Promotion Agency (EKDIPA) to process their land titles and other requests without stress.

“This is by being responsive to their needs and carrying out constant aftercare services even when they are fully established, we are showing other investors that Ekiti is the place to be,’’ he said.

Oyebode also disclosed that the State was developing two special economic zones for Agro-Industrial activities and the knowledge economy.

According to him, apart from those investors who have already chosen Ekiti as a location to do business, others have shown a lot of interest in the state.

“The recent reduction in Right of Way charges for telecommunication infrastructure was done to complement the planned Knowledge Zone; and to demonstrate a commitment to the digital economy.

“The Knowledge Zone on its own will be anchored around talent produced by universities in Ekiti and its neighbouring states; a well planned mini city with residential housing and offices; and reliable infrastructure, especially power and broadband.

“The zone, when completed, will be Nigeria’s first service based economic zone, attracting services like business process outsourcing, back office operations, data labelling, software development/engineering and startups focused on critical sectors like healthcare, education, agriculture and consumer markets.

“The Agro Industrial Processing Zone will include access roads to farms; irrigation systems to ensure all season farming, storage infrastructure to reduce post harvest losses and independent power to enable processors optimise their output.

“Even in the early stages of the zone’s establishment, the State Government is in serious discussions with at least five large-scale processors keen to operate within the Zone.

“To ensure the gains of the current administration are institutionalized, the State’s Public-Private Partnership Law has been updated and is being reviewed by the House of Assembly, while a Mortgage and Foreclosure Bill have also been sent to the state House of Assembly for consideration.

“When both bills are passed into law, Ekiti will have best in class laws to protect private investments and the legal framework to support the long overdue mortgage activity in the State.

“The Government is also embarking on a comprehensive Ease of Doing Business reform programme that seeks to ensure Ekiti is a top-5 state to do business by 2021.” Oyebode added.


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