Ostensibly to boost commercial agriculture in Ekiti State, Governor Biodun Oyebanji has disbursed N146 million as compensation to 46 landowners in Oke Ako, whose land was acquired for the state’s agribusiness initiative.
In a statement on the state government’s Facebook page yesterday, it was disclosed that the initiative was part of the “Bring Back the Youth in Agriculture” scheme, involving the allocation of 4,000 hectares of land to young farmers in partnership with YSJ Farms Limited.
The scheme aims to promote agribusiness, engage youth in large-scale farming, and stimulate economic growth in the Oke Ako area.
The governor inaugurated a range of tractors and processing equipment for the use of young farmers. The occasion also marked the dry season harvest under the state’s agriculture programme.
While speaking during the cheque presentation,the governor expressed satisfaction with the progress of the project, despite initial delays in resolving land acquisition issues.
He noted that the compensation payment was delayed to ensure an accurate enumeration of economic trees affected by the acquisition, with a second phase of payments planned for other landowners.
“Oke Ako is integral to the Ekiti State Special Agriculture Processing initiative. This centre holds immense potential as an economic hub for tractor training, assembly, and repairs,” he said.
The governor commended the Oke Ako community, led by its Regent, Princess Tinuade Ogunbiyi, for their support and co-operation.
Governor Oyebanji also highlighted the broader benefits of the agribusiness initiative, noting its potential to attract infrastructure development, including road rehabilitation, healthcare facilities, and cottage industries, which could transform the local economy.
He added that the project has contributed to a significant reduction in criminal activities, as cultivated farmland has replaced forested hideouts.
“This is another promise kept. Compensation is being paid to citizens for economic trees lost to the acquisition process, enabling them to continue farming and sustain their livelihood. Development often comes with some sacrifices, but the rewards far outweigh the challenges.”
He urged the community to support the investor, YSJ Farms Limited, led by Yemisi Joluwe, while reaffirming his administration’s commitment to creating an enabling environment for investment, youth empowerment, and grassroots development.