Ogun State Attracts $250 Million Investment for Dairy Farm
The Ogun State Government has successfully secured a $250 million investment from Pure Dairy Herd to create a state-of-the-art dairy farm in Itoro, located in the Yewa South Local Government Area. This development enhances the state’s reputation as a prime destination for agricultural investments in Nigeria.
Investment Expected to Transform the Dairy Sector
Bolu Owotomo, the Secretary of Agriculture and Food Security, made this announcement at a community meeting that fostered dialogue between investors and Itoro residents. The project is poised to become Nigeria’s largest dairy farm, with plans for an initial capacity of around 10,000 dairy cows. This venture is anticipated to significantly boost the country’s milk production, generate substantial employment opportunities, stimulate local economic activity, and enhance the livestock and dairy value chain in Nigeria.
Investor-Friendly Policies Driving Growth
Owotomo emphasized that this investment underscores the effectiveness of the investor-friendly policies and business climate cultivated by the Ogun State government under the leadership of Governor Dapo Abiodun. He highlighted the state’s ongoing efforts to attract major investments throughout the agricultural sector, including initiatives like the Apoje Plantation rehabilitation in Ijebu-Igbo and projects in Obafemi Owode, Ikene, Kajola, and Ewekoro.
Infrastructure Improvements to Facilitate Operations
The investors are also committed to upgrading the roads leading to the project site, ensuring easier access and a seamless commencement of operations. This infrastructure development is expected to contribute significantly to the efficiency and success of the dairy farm.
Commitment to Community Welfare and Compensation
In response to concerns raised by community members, Owotomo assured landowners that fair compensation would be provided in accordance with laws and established protocols. He clarified that the compensation structure differentiates between owners of undeveloped land and those with economic trees or cash crops on their property.
Addressing Land Disputes and Socio-Economic Benefits
The secretary further stated that the state government is actively resolving any outstanding land disputes, emphasizing that the dairy farm project will yield significant socio-economic advantages for the local communities. These benefits include job creation, enhanced commercial activity, infrastructural development, and improved living standards.
Community Perspectives and Future Outlook
Oba Nathaniel Fasina, the Chieftain of Itoro, expressed gratitude to the state government for attracting this landmark investment. He urged both government officials and investors to ensure that the host community derives meaningful and sustainable benefits from the project, particularly in terms of job opportunities and community development initiatives. Oba Fasina affirmed the support of Itoro residents for the project, expressing confidence that it will not only spur economic growth but also improve the overall welfare of the community.
Investors Celebrate Alignment with National Industrialization Goals
Jamiu Adeleke, the Liaison Officer of Pure Dairy Herd, addressed the community on behalf of the investors, stating that the investment aims to establish Itoro as a leading dairy hub. He emphasized that the project aligns with the Federal Government’s industrialization strategy, focusing on heavy industry and value addition as pivotal elements for economic diversification.
