Oyo State is taking significant steps to restore cocoa production as a key economic pillar, with the State Executive Council approving ₦3,030,292,472 for the establishment of the Cocoa Rejuvenation Project. The announcement was made in a statement on Wednesday by the Commissioner for Information, Dotun Oyelade, in Ibadan, the state capital.
The initiative, to be implemented through a Public-Private Partnership, will be coordinated by the Oyo State Agribusiness Development Agency and the International Institute of Tropical Agriculture. Oyelade explained that the state, which ranks fourth among Nigeria’s 18 cocoa-producing states, aims to capitalize on disruptions in cocoa production in leading West African producers such as Ghana and Côte d’Ivoire.
“It is the intention of Oyo State to fill the supply void created by production challenges in these countries. The Cocoa Rejuvenation Project, valued at $2,075,547, will be funded in three tranches over the next three years,” the commissioner said.
Beyond agriculture, the council also endorsed security measures, backing South-West governors’ calls for State Police amid dwindling youth participation in the military. The council praised Governor Seyi Makinde for procuring two surveillance aircraft to bolster the state’s security apparatus and for continued support of Amotekun, which is now considered the best-staffed and equipped security outfit in the South-West.
In healthcare, the council approved €50 million for the Oyo State Health Care Initiative, a loan from the French Government originally initiated three years ago. The funding, now sanctioned by the Federal Ministry of Finance, will support infrastructural upgrades and the equipping of state hospitals. The State House of Assembly has also approved the initiative, allowing the government to access the funds.
Sanitation and hygiene are also priorities. The council ratified the Oyo State Water, Sanitation, and Hygiene Policy, unlocking opportunities for financial support from the Federal Government, the World Bank, the African Development Bank, and other international partners. The policy aims to eliminate open defecation, achieve universal access to safely managed sanitation, and integrate hygiene promotion into communities.
Environmental sustainability received a boost with the approval of the Oyo State Climate Action Plans and Policies. A Green Energy Agency will be engaged to implement these policies, backed by a ₦270 million guarantee from a reputable bank.
Finally, the council approved the 2026 Business Enabling Reforms Action Plan, a prerequisite for the state’s participation in the State Action on Business Enabling Reforms initiative. The implementation of the plan is allocated ₦400 million.
Through these strategic initiatives, Oyo State is signaling a multi-sector approach to economic development, spanning agriculture, security, healthcare, sanitation, climate action, and business reform.