Ekiti, Cavista Holdings sign multi-billion  MOU to establish 100,000 hectares state-of-the-art cassava farm

The Ekiti State Government says it has signed a Memorandum of Understanding (MOU) with a leading Nigerian investment company – Cavista Holdings (owners of Agbeyewa Farms Limited) with a view to establishing “a state-of-the-art cassava farm spanning 100,000 hectares within the State.”

The signing ceremony with the Chairman of Cavista Holdings, Niyi John Olajide, took place on the sidelines of the 2024 US-Africa Business Summit currently ongoing in Dallas, USA.

This was disclosed in a statement published on the Ekiti State government’s website on May 9, 2024, Thursday.

The US-Africa Summit drew private sector officials and government representatives to brainstorm on how to sustain trade between the US and Africa.

Ekiti governor, Biodun Oyebanji described the MOU as  a significant step towards agricultural transformation in the state, adding it is “worth billions of naira.”

The governor commended the firm for its gesture towards creating jobs.

He said,

According to the statement, Governor Oyebanji underscored Ekiti State’s commitment to creating an enabling environment for investment while urging other investors to explore the vast opportunities available in the state, particularly in sectors such as tourism, mining, and the burgeoning Ekiti Knowledge Zone and Special Agriculture Processing Zone.

The statement added,

In his remarks, the Chairman of Cavista Holdings, Niyi John Olajide, was quoted as saying his firm remains committed to investing in the state by creating thousands of jobs for the people of the state.

He said,

The MoU between the Ekiti State Government and Cavista Holdings will most likely create jobs if implemented to the latter.