Gov Seyi Makinde of Oyo State says his administration will continue providing an enabling environment for economic growth.
Makinde said this on Thursday during the inauguration of a Cassava-based Sorbitol factory owned by Psaltery International Limited, Alayide village, Ado-Awaye, in the Iseyin Local Government Area of the state.
The governor, who said his administration’s commitment to reducing the infrastructure deficit in the state remained a top priority, pointed out that there could not be agricultural transformation without rural transformation.
He added that his government would continue to prioritize the security of lives and property.
He maintained that his administration would keep thriving to ensure development that targeted the economy of the state.
“Our strategy is based on one principle, and the principle is that there cannot be agricultural transformation without rural transformation.
“If you look at our communities when we resumed in 2019, there was no water, no good road.
“That was why we awarded the 65 Kilometres Moniya-Iseyin Road as one of the projects we prioritized, so our model has achieved great success for us.
“In the last three years, Oyo State has attracted over N23 billion in agribusiness investments and about $125m in development partners-blended finances for rural roads, agro-logistics, markets, and industrial hubs in investment into this sector.
“We have also been very strategic about how we apply the funds to accomplish our goals.
“So, the market has to drive the demands, and I promised our people that our Infrastructure development will hunt our economy,” Makinde said.
He announced that the 48 Kilometres Ido -Eruwa Road would soon be awarded for reconstruction and feeder roads across the state will be on the pipeline for rehabilitation soonest.
He described the establishment of the Psaltry International Cassava-based Sorbitol plant in the state as a good development that would impact positively on the economy of the state.
“Today, Psaltery International Limited is making history as we commission the first cassava-based sorbitol factory in Oyo State, in Nigeria, in Africa, and the second in the world.
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“We needed to move away from the years of government thinking they could run the business of agriculture.
“Now, this is a private sector-led initiative but the government is in full support,” he said.
The governor promised to continue supporting individuals and groups that bring their investments to the state.
He promised to reactivate the Eruwa dam and run a pipe from the dam to the factory at Ado Awaye for the use of the factory and the host communities, as requested by the founder of the factory.
Earlier, Mrs. Oluyemisi Iranloye, the Chief Executive Officer of Psaltry International company limited, said the factory would impact directly and indirectly over 100,000 people within a 200km radius of the factory, covering more than 50 communities.
According to Iranloye, the factory has the capacity to produce 25 tonnes of sorbitol per day.
“Sorbitol is a naturally occurring sweetener, which is synthetically extracted from glucose.
“Due to its low-calorie ratio, it is used in sugar-free foods, pharmaceutical products, oral care products including mouth fresheners and toothpaste,” she said.
The CEO further said the impact of the factory on the host community, in particular, would be enormous.
“It will reduce poverty, thus the living standard of the people of the host community, Alayide village, has increased exceptionally.
“The host and neighboring communities will have access to safe drinking water, through boreholes provided by the company now.
“Also children in the communities will have access to a quality education because, since our arrival, schools around here have been upgraded through our corporate social responsibility.”
“In addition, the cost of bringing water to the factory from the Eruwa dam is about N1.7 billion; we seek the assistance of the government in supplying the water from the dam; we are willing to pay for the water we used as we do for electricity.
