Ekiti, Cavista Holdings sign multi-billion naira MOU to boost cassava farming
The Ekiti State Government yesterday took a significant step towards agricultural transformation by signing a Memorandum of Understanding (MOU) with a leading Nigerian investment company – Cavista Holdings (owners of Agbeyewa Farms Limited) to establish a state-of-the-art cassava farm spanning 100,000 hectares within the State.
The MOU which is worth billions of naira was signed by Governor Oyebanji and the Chairman of Cavista Holdings, Niyi John Olajide on the sidelines of the 2024 US-Africa Business Summit currently ongoing in Dallas, USA.
Present at the signing ceremony were the Speaker, Ekiti State House of Assembly, Rt. Hon Adeoye Aribasoye; Commissioner for Agriculture and Food Security, Mr Ebenezer Boluwade; Commissioner for Industry, Trade and Investment, Mrs Tayo Adeola; Commissioner for Finance, Mr Akin Oyebode; and Commissioner for Budget, Planning and Performance Management, Mr Niyi Adebayo.
On the Cavista Team were the company’s Managing Director, Mr. Dele Odufuye, Chief Financial Officer, Mr Niran Olajide, Dr. Niyi Arije (Legal Director) Mr. Cyril Akika (Member of the Board of Directors) and senior management staff of the company.
Also present were Chief Dele Kelvin Oye, President of the Nigeria Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA), who is also the Vice Chairman, Ekiti State Development and Investment Promotion Agency (EKDIPA); Chairman, Odu’a Investment Company, Otunba Bimbo Ashiru as well as other key stakeholders from the public and private sectors.
Speaking during the event, Governor Oyebanji articulated the government’s vision for agricultural advancement, emphasizing the importance of strategic partnerships in driving progress. He underscored Ekiti State’s commitment to creating an enabling environment for investment and urged other investors to explore the vast opportunities available in the state, particularly in sectors such as tourism, mining, and the burgeoning Ekiti Knowledge Zone and Special Agriculture Processing Zone.
The Governor described the MOU as a testament of his administration’s commitment to the continuity of programmes of the immediate past administration of Dr Kayode Fayemi as enunciated in the State’s 30- year development plan. “This also speaks to alignment of vision. John ( Olajide) wants to create jobs. We want our people to prosper by creating opportunities for them. So, we found a good partner in John and the CAVISTA group.” He said.
Governor Oyebanji expressed gratitude to Cavista for its unwavering commitment to Ekiti State, which has led to several success stories in the Tourism and the Agriculture sectors, bringing about jobs opportunities and income to the state.
“The private sector is very critical to developing our economy, and as a government we must ensure that the process of doing business is easy, seamless and top-notch. I am very proud that Cavista has continued to demonstrate confidence in our state, and all their investments are now success stories. So I look forward to the successful implementation of this MOU to the benefit of Ekiti State and Nigeria”.
Echoing the Governor’s remarks, Chairman of Cavista Holdings, Niyi John Olajide stated that the company had no regrets investing in Ekiti, adding that its commitment is driven by his desire to create thousands of jobs for the people of the state.
“The success of our investment in Ikogosi Warm Springs Resort and our previous agricultural investment in the state, is what encouraged us to embark on this new cassava revolution initiative, to be driven by our subsidiary – Agbeyewa Farms. We are very proud of our partnership with the state and driven by my personal goal to create thousands of jobs in the state, we look forward to another successful partnership with the Ekiti State government under the distinguished leadership of Governor Abiodun Oyebanji”. He said.
This collaboration between the Ekiti State Government and Cavista Holdings marks a significant milestone in the journey towards agricultural transformation and economic empowerment in the region. The partnership is poised to catalyze growth, drive innovation, and position Ekiti State as a beacon of agricultural excellence in Nigeria and beyond.
