Ekiti Governor Presents N146m Compensation to Farmers as Agribusiness Project Kicks Off

The Governor of Ekiti State, Biodun Oyebanji, has expressed satisfaction following the commencement of an agribusiness project aimed at improving the state’s local economy.

In his address on Saturday, December 7, during the cheque presentation ceremony in Oke Ako, Ikole Local Government Area, Governor Oyebanji, who presented cheques totaling N146 million as compensation to 46 indigenes of Oke Ako Ekiti whose land was acquired for the project, thanked the host community for their cooperation.

The Governor also commended the Oke Ako community, led by the Regent, Princess Tinuade Ogunbiyi, for their support towards the project and throughout the land acquisition dispute, which had previously delayed the project’s start.

According to Oyebanji, the commercial agriculture initiative would impact other sectors, particularly ensuring road rehabilitation, improved health facilities, and the possible establishment of cottage industries in the state.

He emphasized the significant role of the agricultural initiative in combating insecurity, particularly in reducing kidnapping and other criminal activities in the area. This was achieved by clearing forests, which had previously served as hideouts, and cultivating the land under the agribusiness scheme involving local youths.

The Governor stated, “What we are doing here today is another promise fulfilled, ensuring that compensation is paid to citizens whose land was acquired for commercial agricultural purposes.”

Speaking on the compensation scheme, he said, “We are compensating them for the economic trees lost during the acquisition process so they can acquire new land to continue farming and sustain their livelihoods.”

On the next phase of payment, the Governor said, “Before clearing the remaining economic trees, we will compensate the owners. Large-scale commercial farming will bring many benefits, including factories, schools, hospitals, and even tractor assembly and engineering hubs.”

Investors King gathered that the state government acquired over 4,000 hectares of land for young farmers under the “Bring Back the Youth in Agriculture” scheme, a partnership with YSP Farm in Oke Ako.

The Governor described Oke Ako as an integral part of the Ekiti State Special Agriculture Processing programme, stressing that its potential benefits go beyond the development of hubs for tractor training, assembly, and repairs, with expatriates on-site to train youths.

“The project aims to boost agribusiness, engage youths in commercial agriculture, and open up the community for wealth creation,” he added.

The Commissioner for Agriculture and Food Security, Mr. Ebenezer Boluwade, thanked the governor for his commitment to agriculture and food security in the state, adding that the compensation payment shows the governor’s dedication to improving the state’s economy.

The Special Adviser to the Governor on Lands, Survey, and e-GIS, Prof. James Olaleye, praised the governor for compensating the landowners, stressing that it would foster cooperation between the indigenes and the government and help transform Ekiti into a leading agricultural center in Nigeria.

Hailing the Governor for the initiative, the Regent of Oke Ako, Princess Ogunbiyi, noted that Oyebanji’s initiative has attracted investors to the community. On behalf of the community, the princess pledged support for the agribusiness initiative.