Ekiti State Government has signed a Memorandum of Understanding (MoU) with Nigerian investment company Cavista Holdings to establish a state-of-the-art cassava farm spanning 100,000 hectares in the state.

The MoU which is worth billions of naira was signed on Thursday by Ekiti State Governor Biodun Oyebanji and Chairman of Cavista Holdings Niyi Olajide on the sidelines of the 2024 US-Africa Business Summit ongoing in Dallas, United States.

Cavista Holdings is the owner of Agbeyewa Farms Limited.

Speaking at the event, Oyebanji expressed the government’s vision for agricultural advancement, emphasising the importance of strategic partnerships in driving progress.

The governor, according to a statement issued by his Chief Press Secretary, Olayinka Oyebode, underscored Ekiti State’s commitment to creating an enabling environment for investment and urged other investors to explore the vast opportunities available in the state, particularly in sectors such as tourism, mining, and the burgeoning Ekiti Knowledge Zone and Special Agriculture Processing Zone.

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Governor Oyebanji described the MoU as a testament to his administration’s commitment to the continuity of programmes of the immediate past administration of Dr Kayode Fayemi as enunciated in the state’s 30-year development plan.

“This also speaks to the alignment of vision. Olajide wants to create jobs. We want our people to prosper by creating opportunities for them. So, we found a good partner in Olajide and Cavista Holdings,” he said.

Oyebanji further expressed gratitude to Cavista for its unwavering commitment to Ekiti State, which he said has led to several success stories in tourism and the agriculture sectors, bringing about job opportunities and income to the state.

Echoing the governor’s remarks, Olajide said the company had no regrets investing in Ekiti State, adding that its commitment is driven by his desire to create thousands of jobs for the people of the state.

He said: “The success of our investment in Ikogosi Warm Springs Resort and our previous agricultural investment in the state is what encouraged us to embark on this new cassava revolution initiative, to be driven by our subsidiary – Agbeyewa Farms.

“We are very proud of our partnership with the state and driven by my personal goal to create thousands of jobs in the state, we look forward to another successful partnership with the Ekiti State Government under the distinguished leadership of Governor Biodun Oyebanji.”

The Star