Agbeyewa Farms Limited, a subsidiary of Cavista Holdings, has entered into a multi-billion-naira Memorandum of Understanding (MOU) with the Ekiti State Government to embark on large-scale cassava cultivation in the state. The initial target is to cultivate 100,000 hectares through an out-grower program.
The MOU was signed by Governor Abiodun Oyebanji of Ekiti State and the Chairman of Agbeyewa Farms, Niyi John Olajide, on the sidelines of the 2024 US-Africa Business Summit in Dallas, USA.
Governor Oyebanji expressed his satisfaction and support for Agbeyewa’s expanded investment in Ekiti State, underscoring the administration’s dedication to job creation and economic empowerment. He encouraged other investors to explore opportunities in Ekiti State, particularly in tourism, mining, and the emerging Ekiti Knowledge Zone and Special Agriculture Processing Zone.
Niyi John Olajide, Chairman of Agbeyewa Farms, explained that aside from increasing crop production for sale, the Agbeyewa Cassava Revolution Project aims to reduce post-harvest losses for farmers, which have previously been reported to be as high as 50%.
Representatives from the Ekiti State government at the signing ceremony included Governor Biodun Oyebanji, alongside top officials from his administration. The Agbeyewa Team was represented by the Company’s Founder and Chairman, Niyi John Olajide, Managing Director, Mr. Dele Odufuye, Chief Financial Officer, Mr. Niran Olajide, Mr. Cyril Akika, and Dr. Mima Nedelcovych, along with other senior management staff.
The signing ceremony was also attended by Chief Dele Kelvin Oye, President of the Nigeria Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA), the Chairman of Odu’a Investment Company, Otunba Bimbo Ashiru, and other key stakeholders from the public and private sectors.
The Memorandum of Understanding represents a significant achievement in Cavista Holdings’ pledge to promote sustainable economic development and cultivate partnerships that enrich communities throughout Africa. As the company initiates this cassava revolution, it reiterates its commitment to generating enduring change and promoting agricultural innovation in Ekiti State and beyond.
