Oyo State Inaugurates Cassava-Based Sorbitol Factory In Iseyin

  • Governor Makinde says Oyo State attracted N23 billion in agribusiness investments in 3 years

Governor of Oyo state, Seyi Makinde, has inaugurated a cassava-based sorbitol factory in Iseyin local government area of the state. The cassava factory which is owned by Psaltery International Ltd, is the first of its kind in Nigeria, Africa and second in the world.

Read Also: Private Sector Responsible For Dollar Shortage – CBN

Oyo State Inaugurates Cassava-Based Sorbitol Factory In Iseyin
Cassava produce

Makinde, at the inauguration revealed that since 2019, Oyo State has attracted over N23 billion in agribusiness investments and close to $125 million in development partners-blended finances for rural roads, agro-logistics, markets and industrial hubs.

The Governor, stated that his administration’s commitment to reducing infrastructure deficit in the state remained a top priority, citing that there could not be agricultural transformation without rural transformation, as his government will continue to prioritise the security of lives and property.

He said, “Our strategy is based on one principle, and the principle is that there cannot be agricultural transformation without rural transformation.

Read Also: Nigeria’s Budget Deficit Hits N30.58TRN In Seven Years

Oyo State Inaugurates Cassava-Based Sorbitol Factory In Iseyin
Cassava factory

“We have also been very strategic about how we apply the funds to accomplish our goals.

“We needed to move away from the years of government thinking they could run the business of agriculture.

“Now, this is a private sector-led initiative but the government is in full support,” he added.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.