The Oyo State government is set to restore the glory of cocoa production as one of the state’s major economic pillars, through the approval of ₦3,030,292,472 for the establishment of the Cocoa Rejuvenation Project.
This was conveyed in a statement on Wednesday, signed by the Commissioner for Information, Dotun Oyelade, made available to PUNCH in Ibadan, the Oyo State capital.
The commissioner said, “The State Executive Council approved the sum of ₦3,030,292,472 for the establishment of the Cocoa Rejuvenation Project.”
The project, which would be driven through a Public-Private Partnership, according to the Commissioner, would be coordinated by the Oyo State Agribusiness Development Agency and the International Institute of Tropical Agriculture.
“The state government is taking this initiative because Oyo State ranks fourth in cocoa production among the 18 cocoa-producing states in Nigeria,” Oyelade explained in the statement. The state is also being proactive by seizing the opportunity created by disruptions in cocoa production in major producing countries like Ghana and Côte d’Ivoire.
“It is the intention of Oyo State to fill the supply void as a result of the production problems facing the West African countries. The Cocoa Rejuvenation Project, which costs two million, seventy-five thousand, five hundred and forty-seven dollars ($2,075,547), will be funded in three tranches over the next three years,” the commissioner added.
According to the commissioner, the council also backs the call by South-West Governors for State Police, and observed that, “the lack of enthusiasm by our youths to join the military makes the domestication of local policing more urgent.”
The council lauded the foresight of Governor Seyi Makinde to procure two surveillance aircraft for the state security apparatus to track and monitor movements in dangerous areas, and the continued support for Amotekun, which it noted, has made the security outfit the best staffed and equipped in the South-West.
Additionally, the council, according to Oyelade, had approved fifty million euros (€50m) for the Oyo State Health Care Initiative, even as it disclosed that, “This loan from the French Government, which Oyo State initiated about three years ago, was finally approved by the Federal Ministry of Finance in a letter dated November 10, 2025.”
The commissioner, in the statement, explained that the loan, intended for infrastructural upgrades and for equipping state hospitals, among other purposes, had also been approved by the State House of Assembly to enable the state government to access the funds.
Oyelade said that the Oyo State Water, Sanitation, and Hygiene Policy was also approved by the council. This approval, according to him, will unlock financial opportunities and allow the state to access funds from the Federal Government, the World Bank, the African Development Bank, and other international partners.
He added that the objective of the fund is to eliminate open defecation, achieve universal access to safely managed sanitation, and integrate hygiene promotion into communities.
The commissioner said that the council, at its meeting on Tuesday, also approved the establishment of the Oyo State Climate Action Plans and Policies, which would allow for the engagement of a Green Energy Agency.
He added that the approval authorised the engagement of a Green Energy Agency to implement the policies, backed by a ₦270m guarantee from a reputable bank.
“The council further approved the Business Enabling Reforms Action Plan for 2026, a mandatory requirement for state participation in the State Action on Business Enabling Reforms,” Oyelade said.
“To meet the eligibility criteria, the council approved the sum of ₦400m as the cost of implementation,” Oyelade added.
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