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Oyo State Launches Ambitious Cocoa Revival Initiative
The government of Oyo State is embarking on a strategic mission to rejuvenate its cocoa industry, aiming to reestablish cocoa as a cornerstone of the state’s economy. This move comes as part of a broader effort to capitalize on emerging opportunities in the global cocoa market.
Significant Investment in Cocoa Rejuvenation
According to a statement from Prince Dotun Oyelade, the Commissioner for Information, the State Executive Council has sanctioned a budget of ₦3.03 billion (Three Billion, Thirty Million, Two Hundred and Ninety-Two Thousand, Four Hundred and Seventy-Two Naira) to fund the Cocoa Rejuvenation Project. This initiative will be executed through a Public-Private Partnership (PPP) model, with coordination led by the Oyo State Agribusiness Development Agency (OYSADA) in collaboration with the International Institute of Tropical Agriculture (IITA).
Strategic Positioning in the Cocoa Market
Oyo State currently ranks fourth among Nigeria’s 18 cocoa-producing states. The government is leveraging this position to address supply gaps caused by production challenges in major West African cocoa exporters such as Ghana and Côte d’Ivoire. Commissioner Oyelade emphasized, “Oyo State is poised to fill the void created by disruptions in these key producing countries, thereby boosting local and international cocoa supply.”
The project’s total cost is approximately $2.08 million, to be disbursed in three phases over the next three years, ensuring sustainable growth and development of the cocoa sector.
Enhancing Security and Policing in Oyo State
The State Executive Council also endorsed the South West Governors’ advocacy for the establishment of State Police. This move is driven by the declining interest among youths in joining the national military, highlighting the urgent need for localized security forces.
Governor Seyi Makinde’s foresight in acquiring two surveillance aircraft to bolster state security was commended. These aircraft will enhance monitoring capabilities in high-risk areas. Additionally, the council praised the continuous support for the Amotekun security outfit, which is now recognized as the best-equipped and staffed regional security force in the South West.
Healthcare Infrastructure Boost with International Support
In a significant development for healthcare, the council approved a €50 million loan from the French Government to fund the Oyo State Health Care Initiative. This loan, initiated nearly three years ago and recently approved by the Federal Ministry of Finance, will finance critical upgrades and equipment procurement for state hospitals. The State House of Assembly has also ratified the loan agreement, enabling the government to access these funds promptly.
Water, Sanitation, and Hygiene (WASH) Policy Adoption
The council’s approval of the Oyo State WASH Policy marks a pivotal step toward improving public health and sanitation. This policy will unlock access to funding from the Federal Government, World Bank, African Development Bank, and other international donors. The initiative aims to eradicate open defecation, ensure universal access to safely managed sanitation services, and promote hygiene education within communities.
Climate Action and Green Energy Initiatives
Oyo State is also advancing its environmental agenda by approving the establishment of Climate Action Plans and Policies. This framework will facilitate the engagement of a Green Energy Agency tasked with implementing sustainable energy solutions. The project is backed by a ₦270 million bank guarantee, underscoring the state’s commitment to combating climate change and promoting renewable energy.
Business Environment Reforms for 2026
To enhance the state’s economic competitiveness, the council approved the Business Enabling Reforms Action Plan for 2026. This plan is a prerequisite for Oyo State’s participation in the State Action on Business Enabling Reforms (SABER) program. A budget of ₦400 million has been allocated to ensure the successful implementation of these reforms, which aim to streamline business processes and attract investment.
