The Ekiti State Government says it has signed a Memorandum of Understanding (MOU) with a leading Nigerian investment company – Cavista Holdings (owners of Agbeyewa Farms Limited) with a view to establishing “a state-of-the-art cassava farm spanning 100,000 hectares within the State.”
The signing ceremony with the Chairman of Cavista Holdings, Niyi John Olajide, took place on the sidelines of the 2024 US-Africa Business Summit currently ongoing in Dallas, USA.
This was disclosed in a statement published on the Ekiti State government’s website on May 9, 2024, Thursday.
The US-Africa Summit drew private sector officials and government representatives to brainstorm on how to sustain trade between the US and Africa.
Significant agricultural step
Ekiti governor, Biodun Oyebanji described the MOU as a significant step towards agricultural transformation in the state, adding it is “worth billions of naira.”
The governor commended the firm for its gesture towards creating jobs.
He said,
“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.
“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”.
According to the statement, Governor Oyebanji underscored Ekiti State’s commitment to creating an enabling environment for investment while urging 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 statement added,
“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.
“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.”
Committed to job creation
In his remarks, the Chairman of Cavista Holdings, Niyi John Olajide, was quoted as saying his firm remains committed to investing in the state by creating thousands of jobs for the people of the state.
He said,
“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”.
The MoU between the Ekiti State Government and Cavista Holdings will most likely create jobs if implemented to the latter.
