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Sierra Leonean President, delegation tour Fasola Agribusiness Hub
From Taiwo Oluwadare, Ibadan
Oyo State Governor, Seyi Makinde has emphasised that African nations have the capacity to ensure global food sufficiency while meeting their local demands. He made this statement on Wednesday during a high-level panel discussion at the International Institute of Tropical Agriculture (IITA) Headquarters in Ibadan.
The discussion was part of the Presidential Visit Programme in honour of the President of Sierra Leone, Dr Julius Maada Bio.
Makinde highlighted Africa’s vast potential in food production, comparing the continent’s population of approximately 1.4 billion to India and China. He stressed the importance of looking inward to address food security and reducing dependency on imports.
“The real challenge is not just meeting our local needs but also contributing to global food sufficiency. The effort required for import substitution is no greater than what is needed to achieve this goal,” Makinde stated.
Sharing insights from Oyo State’s agribusiness initiatives, Makinde explained that his administration prioritised agribusiness as a key economic driver to reduce poverty and hunger.
His government, he said, had leveraged technology, innovation, and data to enhance agriculture. Policies such as tractorisation—where farmers receive a 50% subsidy on ploughing costs—farmer verification, and smallholder support were designed to boost food security and agricultural productivity.
“When we assumed office, we identified agribusiness as a major pillar for economic expansion. We organised a workshop in the Republic of Benin to develop our roadmap, free from distractions. Some strategies worked well, while others required adjustments,” he said.
Makinde acknowledged challenges in mechanisation, revealing that Oyo State had once operated a Tractor Unit but found the tractors unaccounted for. Rather than investing in state-owned tractors, the administration opted to support private operators through subsidies. Farmers were required to cover half the cost of land clearing while the government subsidised the remainder.
Despite setting a goal to plough 120,000 hectares, Makinde admitted that only 5% of the target was achieved. However, he noted that the availability of accurate data now enables better planning, with aspirations to reach 30–50% efficiency.
Makinde highlighted the Fasola Agribusiness Industrial Hub, designated as a Special Agro-Industrial Processing Zone by the African Development Bank (AfDB). The state government prioritised infrastructure development, which in turn attracted major private-sector investors.
“The road leading to Fasola was in a deplorable condition, so we prioritised fixing it to attract private investments. This approach worked, as we have since seen major investors commit funds to the hub,” he said.
One notable investor is former Nigeria Football Federation President, Amaju Pinnick, who joined due to the improved infrastructure. Makinde emphasised that government investment in infrastructure was minimal compared to the private capital it attracted.
Governors of Borno and Plateau States, Prof. Babagana Zulum and Caleb Muftwang, also shared their agribusiness experiences. President Bio of Sierra Leone remarked that Africa could save over $50 billion annually in food imports if leaders demonstrated political will, embraced technology, and secured adequate funding for agriculture.
Following the panel discussion, President Bio, Governor Makinde, Governor Muftwang, and their teams toured the Fasola Agribusiness Hub, where they engaged in discussions on private-sector investment in agribusiness.
The event was attended by key Oyo State officials, including Deputy Governor Barr. Abdulraheem Bayo Lawal, Secretary to the State Government Prof. Olanike Adeyemo, Chief of Staff Otunba Segun Ogunwuyi, and other dignitaries from various government sectors.