The Oyo State Government has unveiled a fresh round of multi-billion naira interventions in the agriculture sector and other key areas.
Prince Dotun Oyelade, the state Commissioner for Information and Civic Orientation, disclosed this in a statement on Thursday in Ibadan.
Oyelade said the approvals were targeted at strengthening agro-industrialisation, road infrastructure, health facilities, and repositioning sports in the state.
According to him, the State Executive Council approved an interest-free strategic loan of N3 billion for an indigenous cassava-processing factory in Ado-Awaye, Iseyin Local Government Area.
He said the factory, which produces cassava flour and other derivatives, would directly benefit over 25,000 farmers, generate employment, and consolidate Oyo’s status as a leading cassava-producing state.
The council also approved N2.4 billion as additional equity investment to fast-track the take-off of the Oyo Sugar and Derivatives Industries Limited in Iseyin town.
Oyelade recalled that N850 million had earlier been released as government equity to revitalise the sugar factory.
He noted that the sugar project is among the state’s key industrialisation initiatives aimed at adding value to farm produce, creating jobs, and boosting internally generated revenue.
On infrastructure, the commissioner said the council approved N2.9 billion for the construction of the 4-kilometre Idi-Igba/Akinmorin road in Ilora, Oyo zone.
He explained that the approval was based on the expected socio-economic impact of the road on residents and businesses.
“The council also approved an additional N26.7 billion for the ongoing upgrade of the Samuel Ladoke Akintola Airport, Alakia, Ibadan.
“The funds will cover revised works under the updated Bill of Engineering Measurement and Evaluation, including a 140-metre strip, runway safety area, blast pad, extra pipe covers and other ancillary components,” he stated.
Oyelade further disclosed that the council approved a Healthcare Initiative Project to be funded with a €55 million loan facility from France, guaranteed by the Federal Government.
According to him, the project will involve the modular construction and equipping of hospitals across the state.
The commissioner also announced the approval of N200 million as a take-off grant for Shooting Stars Sports Club (3SC) to rekindle the glory of the state football club.
He said the support was aimed at aiding the club’s quest to return to continental competitions, a feat it has not achieved in 27 years.
Oyelade reiterated that these approvals reflect the state government’s commitment to inclusive development, economic growth, and improved welfare for the people of Oyo State.
