Ekiti State Welcomes $40 Million Investment from Turkish Alliance Group for Organic Fertilizer Factory

Mr Oyebanji affirmed the key role agriculture plays in the lives of the people, stressing that the only way out of the present economic doldrums is to increase and improve productivity.

Ekiti State Governor, Biodun Oyebanji, has said that the $40 million organic fertilizer factory to be sited in the state by Turkiye-based Alliance Group was capable of boosting employment, food production and agribusiness.

Mr Oyebanji said the government would continue to woo investors to the state in the bid to position it as a major industrial and investment hub in the country.

The governor disclosed this in Ado-Ekiti on Wednesday during a meeting with officials of Istanbul, Turkiye-based Alliance Group on plans to establish a $40 million organic fertilizer factory in the state.

He affirmed the key role agriculture plays in the lives of the people, stressing that the only way out of the present economic doldrums is to increase and improve productivity.

“We came on board with the mantra of shared prosperity and continuity, and agriculture is so key for us as a people. We have challenges in the country today because of a lack of productivity because if people must prosper, they have to produce. Productivity is key to prosperity and government cannot be in the forefront of that, the only thing government can do is to look for serious private investors and partner with them to ensure productivity,” the governor said.

Speaking further, Mr Oyebanji said the state had put measures in place for ease of doing business and to safeguard investments in the state, adding that his administration would continue to strengthen and sustain partnerships on projects that are relevant to the development objectives of the government.

“Your concept of establishing an organic fertilizer factory in Ekiti state is a welcome development.And to drive our investment portfolio, we have the Investment Promotion Agency (IPA) headed by a professional. This is aimed at improving the ease of doing business in the state. On this, we have structures, we have institutions, we have laws that safeguard investments in this state. We will also ensure that all obstacles towards doing business are removed.

“We just played host to a team from the American Embassy, led by the Deputy Ambassador and Consul-General with an investor. They have gone to our agriculture processing zone; they want to invest in cassava. And we’ve been receiving serious investors in the state, I took your word when you said there is a need to accelerate, so, we are also ready to play along by providing all you will need to make the project succeed,” he stated.

Earlier, the leader of the delegation, Sidi Oso, said the organisation was identifying regions in Africa, particularly Nigeria, looking for states with economic prospects and potential for development in the area of investment.

Mrs Oso, a professor, added that the organisation had concluded plans to set up an organic fertilizer factory in the state.

While stressing that Ekiti has the necessary raw materials in the areas of water bodies and lakes to boost massive production of fertilizer, she commended the Governor for having a team of great professionals who investment-conscious. She expressed hope to have more partnerships with the state beyond the fertilizer production project.

Mrs Oso stressed that the project would bring in about $40 million aimed at unlocking employment and investment opportunities in the state.

She said the investment is coming in as an agriculture-water-based fertiliser project, which would go beyond production to the level of marketing the product nationally and internationally.

Source: premiumtimesng

Image: nitrocdn

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