The Oyo State government has approved ₦3,030,292,472 for the establishment of the Cocoa Rejuvenation Project, aimed at restoring cocoa as a key economic pillar of the state. The approval was announced on Wednesday in a statement by the Commissioner for Information, Dotun Oyelade, made available to PUNCH in Ibadan.
The project, to be implemented through a Public-Private Partnership (PPP), will be coordinated by the Oyo State Agribusiness Development Agency in collaboration with the International Institute of Tropical Agriculture (IITA). Oyelade noted that Oyo State ranks fourth among Nigeria’s 18 cocoa-producing states and aims to capitalize on disruptions in cocoa supply from major producers like Ghana and Côte d’Ivoire.
“The state government intends to fill the supply void as a result of production challenges in West African countries. The Cocoa Rejuvenation Project, costing $2,075,547, will be funded in three tranches over the next three years,” Oyelade said.
The State Executive Council also endorsed the call by South-West Governors for State Police, citing declining youth interest in military service and the urgent need for local policing. The council commended Governor Seyi Makinde for procuring two surveillance aircraft to enhance state security and for strengthening the Amotekun Corps, now regarded as the best-equipped regional security outfit.
In addition, the council approved a €50 million loan from the French Government for the Oyo State Health Care Initiative, aimed at upgrading hospitals and health infrastructure. The loan, initially sought three years ago, received final approval from the Federal Ministry of Finance on November 10, 2025, and has been cleared by the State House of Assembly.
The council also approved the Oyo State Water, Sanitation, and Hygiene Policy, expected to unlock federal and international funding from agencies such as the World Bank and African Development Bank. The policy aims to eliminate open defecation, ensure universal access to safely managed sanitation, and integrate hygiene promotion into communities.
Additionally, the Oyo State Climate Action Plans and Policies were approved, authorizing engagement of a Green Energy Agency with a ₦270 million bank guarantee to implement the policies.
Finally, the council approved the Business Enabling Reforms Action Plan for 2026, allocating ₦400 million for its implementation, a prerequisite for state participation in the State Action on Business Enabling Reforms initiative.
The approvals underscore Oyo State’s commitment to reviving agriculture, enhancing security, improving healthcare, promoting sustainable environmental policies, and facilitating business-friendly reforms.
