The Oyo State Government is set to restore the glory of cocoa production as one of the state’s major economic pillars, with the approval of the sum of ₦3,030,292,472 billion for the establishment of Cocoa Rejuvenation Project by the State Executive Council.
This was made known in a statement signed by the Commissioner for Information, Prince Dotun Oyelade.
According to the statement, the project, which would be driven through a Public-Private Partnership (PPP), would be coordinated by the Oyo State Agribusiness Development Agency (OYSADA) and the International Institute of Tropical Agriculture (IITA).
The Commissioner explained that the state government is taking the initiative because Oyo State ranks fourth in cocoa production among the 18 cocoa-producing states in Nigeria.
He said, “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.)
He disclosed that the Cocoa Rejuvenation Project, which would cost $2,075,547 million, would be funded in three tranches over the next three years.
In another development, the Information Commissioner said that the State Executive Council has also backed the call by South-West governors on their call for state police and observed that the lack of enthusiasm by youths to join the military makes the domestication of local policing more urgent.
The SEC lauded the foresight of Governor Seyi Makinde to procure two surveillance aircrafts for the state security apparatus to track and monitor movements in dangerous areas, and the continued support for Amotekun that has made it the best staffed and equipped Corps in the South West.
Additionally, the Council approved €50 million for the Oyo State Health Care Initiative.
The 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.
He explained that the loan, intended for infrastructural upgrades and equipping state hospitals, among other purposes, has also been approved by the state House of Assembly to enable the state government to access the funds.
Prince Oyelade said that the Oyo State Water, Sanitation and Hygiene (WASH) Policy was also approved by the council.
This approval, according to him, would 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 said 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 stated further that the Council, at its meeting on Tuesday, November 26, 2025, 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 said that the approval authorises the engagement of a Green Energy Agency to implement the policies, backed by a ₦270 million guarantee from a reputable bank.
The SEC further approved the Business Enabling Reforms Action Plan for 2026, a mandatory requirement for state participation in the State Action on Business Enabling Reforms (SABER).
Prince Oyelade said that to meet the eligibility criteria, the council approved the sum of ₦400 million as the cost of implementation.
