* Governor Seyi Makinde
By Ibidapo Olowolayemo, Ibadan
Wednesday November 26, 2025
Please, share this story:
The Oyo State government is set to restore the glory of cocoa production as one of the state’s major economic pillars.
According to a statement signed by the state Commissioner for Information, Prince Dotun Oyelade, on Wednesday, the State Executive Council (SEC) has approved a sum of over N3 billion for the establishment of Cocoa Rejuvenation Project.
According to him, the project, which will be driven through Public-Private Partnership (PPP), will be coordinated by the Oyo State Agribusiness Development Agency (OYSADA) and the International Institute of Tropical Agriculture (IITA).
“The sum of three billion, thirty million, two hundred and ninety-two thousand, four hundred and seventy-two naira (₦3,030,292,472) for the establishment of a Cocoa Rejuvenation Agency,” he said.
The commissioner explained that the state government was taking this initiative, because Oyo State ranks fourth in cocoa production among the 18 cocoa-producing states in Nigeria.
He said: “The state is also being proactive by seizing the opportunity created by disruptions in cocoa production in major producing countries like Ghana and Côte d’Ivoire.
“It is the intention of Oyo State to fill the supply void as a result of the production problems facing the West African countries.
“The Cocoa Rejuvenation Project, which costs two million, seventy-five thousand, five hundred and forty-seven dollars ($2,075,547), will be funded in three tranches over the next three years.”
The SEC also backed the call by the South-West governors on their call for creation of state police, observing that the lack of enthusiasm by youths to join the military made the domestication of local policing more urgent.
The Council lauded the foresight of Governor Seyi Makinde to procure two surveillance aircraft for the state security apparatus to track and monitor movements in dangerous areas and the continued support for “Amotekun that has made it the best staffed and equipped in the South-West.”
Also, the Council approved €50 million for the Oyo State Health Care Initiative. “This loan from the French government, which Oyo State initiated about three years ago, was finally approved by the Federal Ministry of Finance in a letter dated November 10, 2025,” he said.
He explained that the loan, intended for infrastructural upgrades and equipping of state hospitals, among other purposes, had also been approved by the State House of Assembly to enable the state government access the funds.
Prince Oyelade said the state Water, Sanitation and Hygiene (WASH) Policy was also approved by the SEC.
This approval, according to him, would unlock financial opportunities and allow the state to access funds from the Federal Government, the World Bank, the African Development Bank, and other international partners.
He added that the objective of the fund was to eliminate open defecation, achieve universal access to safely managed sanitation, and integrate hygiene promotion into communities.
The commissioner said the Council “at its meeting on Tuesday, also approved the establishment of the Oyo State Climate Action Plans and Policies, which will allow for the engagement of a Green Energy Agency.”
He said the approval authorised the engagement of a Green Energy Agency to implement the policies was backed by a ₦270 million guarantee from a reputable bank.
“The Council further approved the Business Enabling Reforms Action Plan for 2026, a mandatory requirement for state participation in the State Action on Business Enabling Reforms (SABER),” he said.
Prince Oyelade said to meet the eligibility criteria, the Council approved the sum of ₦400 million as the cost of implementation.
We are here to serve you news and information.
Your donations, reactions and advert placement are welcome.
Contact us on 08033783144 (WhatsApp)
08023469999(WhatsApp)
idowuadelusi@gmail.com,thepathfindernews0@gmail.com
Follow our reports also on X @idowuadelusi and Facebook (Idowu Oluwole Adelusi)