Ekiti State Attracts $40M Investment in Organic Fertiliser Project

Ekiti State Attracts $40M Investment in Organic Fertiliser Project

Ekiti State Governor, Biodun Oyebanji has reaffirmed his administration’s commitment to wooing investors and positioning Ekiti State as a major industrial and investment hub in Nigeria.

Governor Oyebanji disclosed this during a meeting with officials of Turkey-based Alliance Group on Tuesday 20th February 2024.

At the meeting, Alliance Group revealed plans to establish a $40 million organic fertilizer factory in Ekiti state.

The leader of the delegation, Prof. Sidi Oso revealed that the organization has been identifying regions with economic prospects and potential for development in Africa, particularly Nigeria, hence, the decision to set up an organic fertilizer factory in Ekiti state. The $40 million fertilizer project will include the production, marketing and exportation of the organic fertilisers.

The Governor acknowledged the potential of the project to increase and improve employment, food production and agri-business in the state. He therefore reasserted his administration’s commitment to collaboration with institutions, development agencies and private sector players.

While underscoring the key role that agriculture plays in the lives of the people, the Governor also noted that the only way out of the present economic problems in the country is by increasing productivity.

“We came on board with the mantra of shared prosperity and continuity, and agriculture is so key for us as a people. We have challenges in the country today because of a lack of productivity, because if a people must prosper, they have to produce. Productivity is key to prosperity and the government cannot be in the forefront of that; the only thing the government can do is to look for serious private investors and partner with them to ensure productivity.”

Speaking further, Governor Oyebanji assured all parties present that the state has implemented measures to safeguard investments and to ensure ease of doing business. These are steps that the BAO administration considers non-negotiable for strengthening and sustaining partnerships on projects that are relevant to the development objectives of the government.

Prof. Sidi Oso commended the Governor for having a team of great investment-conscious professionals and she also acknowledged the abundant presence of the necessary raw materials for the massive production of fertilizers in Ekiti State.

The Director-General of Ekiti Development and Investment Promotion Agency (EKDIPA), Mrs Lolade Olutola and other government officials were also present at the meeting.