Oyo approves N3bn cocoa rejuvenation project and secures €50m health loan as Makinde’s cabinet rolls out major agricultural, security and climate policies.

The Oyo State Government on Tuesday approved N3,030,292,472 for a Cocoa Rejuvenation Project aimed at restoring cocoa as one of the state’s major economic pillars.

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The project, to be executed through a Public-Private Partnership, will be coordinated by the Oyo State Agribusiness Development Agency (OYSADA) in collaboration with the International Institute of Tropical Agriculture (IITA).

Commissioner for Information, Prince Dotun Oyelade, confirmed the approval after the State Executive Council meeting.

Oyelade said the initiative was driven by Oyo’s position as the fourth-largest cocoa-producing state in Nigeria and by global market opportunities created by declining output in major producers such as Ghana and Côte d’Ivoire.

He added that the project, valued at $2,075,547, would be funded in three tranches over three years.

The Council also aligned itself with the South-West governors’ renewed push for State Police, noting that dwindling youth interest in joining the military made decentralised policing more urgent.

Oyelade disclosed that the Council praised Governor Seyi Makinde’s security investments, including the procurement of two surveillance aircraft and continued funding for the Amotekun Corps, which he described as the best equipped in the region.

In a separate approval, the Executive Council endorsed a €50 million loan from the French Government under the Oyo State Health Care Initiative.

The loan—requested three years ago—was recently cleared by the Federal Ministry of Finance and has now been approved by the State House of Assembly.

The funds will be used for hospital upgrades, infrastructure, and equipment.

The Council also adopted the Oyo State Water, Sanitation and Hygiene (WASH) Policy, designed to help the state access financing from the Federal Government, the World Bank, the African Development Bank and other partners.

The policy aims to eliminate open defecation and improve sanitation and hygiene standards across communities.

Additionally, the state approved the creation of the Oyo State Climate Action Plans and Policies, authorising the engagement of a Green Energy Agency backed by a N270 million bank guarantee.

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The Executive Council further endorsed the Business Enabling Reforms Action Plan for 2026, a prerequisite for participation in the State Action on Business Enabling Reforms (SABER), and approved N400 million to meet the eligibility requirements.