The Ekiti State Government on Tuesday signed a Memorandum of Understanding [MOU] with a Dutch investment group, Villam Agric Ltd, on N3.5 billion agric project.

Fayemi restated his administration’s resolve to use the agriculture sector as a platform for the diversification of the state economy.

He also stressed the need for the state to convert its knowledge capacity to agricultural technology and achieve higher productivity and yield as well as the reduction in post-harvest losses which the state has suffered for years.

The governor, who spoke in Ado Ekiti while signing the MOU, said,

“For us, it’s time to convert our knowledge capacity to agric technology, higher productivity and yield and reduction in post-harvest losses that we have suffered for years. And this is the time to do it as Nigeria confronts the challenges of the implications of Covid-19 on our oil where the price of our oil is going down”.

Earlier, the Managing Director of Villam Agric Ltd, Rene Haveman, stressed the importance of providing food to the people especially during crisis like the one the world is facing now.

Haveman said that large storage facility available in the state should not be left idle again, but should be made to benefit both the investor and the state.

He urged farmers in the state to increase their production during this planting season as he plans to ensure market conformity prices as his organization planned to buy directly from farmers at attractive prices.

Haveman also said that his organization would upgrade the silos and by November set up a maize processing plant in the state.

Also speaking, the Commissioner for Agriculture, Mr Folorunso Olabode, praised Villam Agric Ltd for its efforts at partnering with the state to help reposition agriculture by planning to inject N3.5 billion into the sector.