The Oyo State Government has sealed a strategic partnership with COVEC, a subsidiary of the China Civil Engineering Construction Corporation (CCECC), to accelerate agribusiness growth and strengthen the state's economy.
The agreement was unveiled at a high-level Stakeholders' Forum held at the State Secretariat, Ibadan, on Monday, bringing together government officials, agribusiness players, and development partners.
Deputy Governor Adebayo Lawal said the partnership will drive food security, expand export opportunities, and harness the state's agricultural strengths.
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"This is a leap toward economic stability, export readiness, and a more resilient food system," he said, noting it aligns with Governor Seyi Makinde's vision of positioning Oyo as a leading agribusiness hub in West Africa.
COVEC President, Mr. Long Quoping, said the collaboration will focus on modern farm estates, mechanisation, and high-value crop production with advanced technology.
Oyo Agribusiness Agency DG, Dr. Debo Akande, described the deal as vital for rural industrialisation, job creation, and technology transfer, stressing it will attract more private sector investments and long-term financing.
