Oyo Assembly Passes Bill to Establish Agribusiness Development Agency

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2020 budget passes second reading

The Oyo State House of Assembly has passed into law a bill to establish agribusiness development agency.

The bill which report of the committee on agriculture and rural development was delivered during Tuesday plenary in Ibadan, is intended to develop strategies to coordinate and implement Agribusiness investment in the State through public, private partnership development.

Speaking after the third reading of the bill, the Oyo State Speaker, Rt. Hon. Adebo Ogundoyin noted that the agency will be saddled with the duties of providing intensive agricultural extension services to facilitate the rapid development of the State’s agriculture.

He said, “The overall goal of this agency is to attract both local and foreign agro-investment, which will encourage efficient agricultural production and improve the income and standard of living of rural families in the State.

“The agency will also be responsible for formation and registration of farmers into agribusiness cooperative groups to ensure easy and structure agro-finance, loans and other incentive for the real farmers.

“It is our aim as government to make Oyo State the agricultural hub of the nation and we are not distracted, we are working hand in hand with the executives and God’s willing we will lift our dear State out of poverty into prosperity.”

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