Ekiti State Receives Massive Food Production Boost With $40m Organic Fertiliser Factory

News in Brief: - Ekiti state is set to welcome a $40 million organic fertiliser factory from Turkey's Alliance Group, aiming to boost employment, food production, and agribusiness. - Governor Oyebanji highlighted the project's potential to create jobs, attract further investment, and strengthen the state's agricultural sector. Ekiti State governor, Biodun Oyebanji, recently met with officials from the Istanbul-based Alliance Group to discuss the establishment of a $40 million organic fertiliser factory in the state. This project is expected to create significant employment opportunities, enhance food production, and contribute to the development of the agribusiness sector in Ekiti. Speaking during the meeting, Governor Oyebanji noted the crucial role of agriculture in driving economic prosperity. He used the event to reiterate his administration’s commitment to collaborating with institutions, development agencies, and private sector players to position our state as a major industrial and investment hub in this country.’ Additionally, he highlighted the need for increased productivity to overcome current economic challenges. The governor expressed his administration’s commitment to attracting private investment and partnering with reputable companies like Alliance Group. Also, the governor outlined various measures taken by his administration, including the establishment of the Investment Promotion Agency (IPA) to streamline business processes, the implementation of laws and safeguards to protect investments. He also noted the removal of bureaucratic obstacles hindering business operations.

Expected benefits of the project

[caption id="attachment_6946" align="aligncenter" width="1200"] Delegation from Alliance Group meeting with Ekiti State Governor[/caption] Leader of the delegation, Professor Sidi Oso, revealed that their choice of Ekiti State to invest in bordered on a number of favourable factors. These include the state’s economic potential and the availability of key resources like water bodies and lakes. Furthermore, she added that the project possesses key benefits to the state in the areas of job creation, investment unlocking, development of an agriculture water-based fertiliser production facility and the establishment of national and international marketing channels for the produced fertiliser. Beyond the immediate project, Professor Oso expressed interest in exploring further collaboration opportunities with the Ekiti State government. This initial venture paves the way for a potentially long-term partnership aimed at fostering sustainable economic growth and development in the region.