Business is booming.

Ekiti Govt subsidises cocoa, oil palm seedlings by 50%

By Egbodo Queen

The Governor of Ekiti State, Abiodun Oyebanji, has approved a 50% subsidy on oil palm, cocoa, and cashew seedlings to be supplied to farmers.

In a statement released to media houses on Wednesday, the State Commissioner for Agriculture and Food Security, Mr. Ebenezer Boluwade, advised farmers in the state to get in touch with the Ministry’s Tree Crops Department regarding the development.

The statement signed by Boluwade reads in part: “The action is a component of the Oyebanji administration’s strategic steps to create wealth and jobs.It also aims to take Ekiti State back to its prime in the 1970s, when it was recognized as one of the top producers of cocoa in the world.

“The initiative aims to revitalize cocoa plantations by replacing elderly trees and bush-burned trees with enhanced seedlings with shorter gestation periods. Additionally, efforts are being made to engage young, motivated farmers in the industry.

The Commissioner urged both legacy and new farmers to participate in the initiative and benefit from it, stating that the government will also provide farmers with agrochemicals to avoid fungus diseases and pests, thus improving productivity.

He stated that the worldwide cocoa business was thriving in the international market, with commodity prices reaching Ekiti State Government launched a program last year that offered smallholder farmers enhanced seeds and seedlings together with a 50% subsidy to ensure maximum output.

Boluwade noted that the Oyebanji administration was dedicated to revealing the state’s agricultural potential for economic viability.

At the time, he had urged farmers in the state to take advantage of the initiative to enrich themselves and the state by extension.


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