… Says N50b investment in agribusiness yielding results
Ekiti State Governor, Biodun Oyebanji has reiterated the determination of his administration to ensure unbridled chains of distribution of major food items to the citizens of the state all year round.
Governor Oyebanji disclosed this on Wednesday during the official commissioning of ‘Ounje Ekiti Retail Outlet’ and “Ilu Eye Aggregation Hub” in Ado- Ekiti, the State capital.
He added that the major concern of his administration is to fulfil the mandate of President Bola Ahmed Tinubu on urgent need to grow the state out of hunger and poverty by ensuring that all food items consumed in Ekiti are produced within the State.
The Ilu Eye Agregation Hub, a registered company buys food commodities from farmers in the state and store, while the “Ounje Ekiti Retail Outlet” is to sell the food items to citizens at affordable prices.
Governor Oyebanji who confirmed that his government had expended over N50 billion in agribusiness since inception, said his vision is to turn Ekiti into the food basket of the nation through a food supply system and mechanism that will ensure food security as well as improve access to cheap food commodities.
The Governor said the initiative is a strategic step towards addressing persistent challenges in the agriculture sector, reduce adverse losses in effective food storage and inefficient market leakages. He added that the effort is part of the recommendation of the Ekiti State Food Security Committee, which was constituted to improve food supplies in the State.
Speaking further, Governor Oyebanji said the hub had already taken delivery of 750 metric tons of white beans, 239.167 metric tons of rice paddy, 101.54 metric tons of maize and 1,716 bags of garri all produced within Ekiti State and to be sold below market prices.
“The initiative is aimed at strengthening the food supply system, ensuring food security, and improving access to affordable food for residents of Ekiti State. The establishment of Ilu Eye Agro-Trading and Aggregation Company Limited is a strategic step towards addressing persistent challenges in the agricultural sector, particularly post-harvest loses, inadequate food storage and inefficient market linkages.
“This initiative is a direct outcome of the recommendation of the Ekiti State Food Security Committee, which was constituted under the leadership of Honourable Commissioner for Agriculture and Food Security. I wish to express my sincere appreciation to the Chairman and all members of the Food Security Committee for their diligence and professionalism in translating our vision into actionable outcomes. I’m also pleased to report that as of today, August 6, 2025, the Ilu Eye Aggregation Hubs have successfully aggregated the following food commodities from local producers and cooperatives within the state. They bought 715 metric tons of white beans, 239.167 metric tons of rice paddy, 101.54 metric tons of maize and 1,716 bags of garri all produced within Ekiti.
“This level of aggregation is a testament to the productive capacity of our farmers when supported with the right policies, infrastructure, and market assurance. It also marks a significant milestone in our efforts to reduce post-harvest losses and reposition agriculture as a viable economic pillar, for the state”, He stated.
Governor Oyebanji however noted that the retail outlet will service only households for their basic food intake at affordable prices. He emphasized that the intervention is structured to ensure equitable access as well as ensure strict control on the quantity of purchase per individual, zero tolerance for hoarding or diversion, and prevention of unbilled profit sharing as well as re-emergence of middlemen within the supply chain.
Earlier, the Commissioner for Agriculture and Food Security, Mr Ebenezer Boluwade, had commended Governor Oyebanji for his efforts aimed at igniting development in the State, especially in the agriculture sector. He added that the two projects being commissioned signified the state’s journey to an affordable food system in the state as initiative will encourage farmers who now have ready markets for all their commodities.
Boluwade, who is also the Chairman of the State’s Food Security Committee affirmed that the initiative is not a palliative programne, but a programme structured to help prevent ridiculous price tags on food items that are produced during drought and peak season as well as reduce or prevent activities of middlemen who usually extort farmers. He disclosed that the State Government has also launched commodity price dashboard to aggregate prices for major markets.
Also, the Commissioner for Finance and Economic Development, Mr Akintunde Oyebode commended Governor Oyebanji for placing high premium on agriculture development, which speak to the Governor’s commitment to shared prosperity.
He said he is confident that the initiative will put food on the tables of residents all year round and ensure that no Ekiti person goes hungry.
Also at the event were the Speaker, Ekiti State House of Assembly, RT. Hon. Adeoye Aribasoye, members of the State House of Assembly, members of the state Executive Council; Secretary to the State Government, Prof. Habibat Adubiaro, Chief of Staff, Mr Niyi Adebayo, Head of Service, Dr Folakemi Olomojobi; heads of market associations and labour union leaders, among others.
