Oyo State Powers Economic Growth Through Agribusiness — Dr. Debo Akande, OYSADA DG
The Director General of the Oyo State Agribusiness Development Agency and Executive Adviser to the Governor on Agribusiness and International Development Cooperation, Dr. Debo Akande, has reaffirmed that Oyo State’s deliberate focus on agribusiness is fast becoming a national model for sustainable economic development.
Speaking during the 18th anniversary celebration of Splash 105.5 FM and the 86th birthday of His Royal Majesty, Oba (Dr) Murtala Adebayo Akande MFR, the Ekarun Olubadan of Ibadanland, held at the University of Ibadan, Dr. Akande noted that under Governor Seyi Makinde’s leadership, Oyo has moved from promises to tangible achievements in transforming agriculture into an engine of industrial and economic growth.
His keynote lecture, titled *“Agro-Industrialization: The Missing Link in Nigeria’s Economic Development Transformation,”* traced Nigeria’s historical shortcomings in agriculture and highlighted how Oyo State’s bold strategy over the past six years has reversed the trend.
According to Dr. Akande, the state’s shift from subsistence to structured, data-driven, and policy-led agribusiness has laid a solid foundation for industrialization and prosperity.
Dr. Akande praised Governor Makinde for initiating a clearly defined agribusiness roadmap since 2019. This roadmap, he said, aligns the entire agricultural value chain from production to processing and distribution into a coherent ecosystem that fosters job creation, encourages enterprise development, and enhances export readiness. He said as a result, Oyo has attracted over N46 billion in private agribusiness investments and secured international development funding worth $170 million through partnerships with institutions such as the African Development Bank (AfDB), the World Bank, IITA, and European agencies.
He described the Fasola Agricultural Transformation Center as a proof of concept. ” In just three years, the hub has welcomed 14 agribusiness firms with N17 billion in investments, focused on value addition and crop processing” .
” Beyond Fasola, an additional N29 billion has flowed into various agro-industrial ventures across the state, including in cassava processing, sugar and cashew production, and machinery fabrication, benefiting over 27,000 farmers”. He said.
Dr. Akande emphasized that Oyo’s agricultural progress is rooted in rural transformation. He pointed to major infrastructure developments, including over 300 kilometers of completed rural roads and 1,000 kilometers underway.
Complementing this are initiatives in agro-logistics, security via the Amotekun corps, aggregation centers, and a developing cargo airport—all designed to strengthen farm-to-market connections and reduce post-harvest losses.
He explained that the state’s approach targets a shift from small-scale, subsistence farming to semi-commercial, technologically driven operations. Farmers are being empowered to scale, consolidate land, adopt innovation, and improve productivity within a supportive policy and infrastructure framework.
Looking ahead, Dr. Akande announced that two new agro-industrial hubs are currently in the works. These hubs are expected to accommodate over 40 agri-based industries and generate over 100,000 jobs, supporting more than half a million farmers directly and indirectly. If this trajectory continues, he projected that Oyo could become the first sub-national entity in Nigeria to attain economic self-sufficiency through agriculture-led industrialization.
Beyond celebrating the state’s achievements, Dr. Akande used the occasion to advocate for a national rethink. He argued that Nigeria must move away from the long-standing pattern of exporting raw farm produce, calling instead for a comprehensive national agro-industrial policy focused on value addition, processing, and job creation.
He highlighted that nearly half of Nigeria’s population works in agriculture, yet poverty persists in rural communities evidence, he said, of a broken system in dire need of transformation.
Dr. Akande thereafter recommended deep private sector engagement, region-specific strategies, robust scientific research, and substantial financing.
He also urged the federal government to meet the African Union’s target of allocating at least 10% of the national budget to agriculture, in line with the Comprehensive Africa Agriculture Development Programme (CAADP).
In his closing remarks, Dr. Akande expressed gratitude to Oba Bayo Akande and the Splash FM team for the opportunity to share insights on a subject central to Nigeria’s future.
He also commended Governor Seyi Makinde for the visionary leadership that continues to make Oyo State a benchmark for agro-industrial development across the country.
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