News in Brief:
– Ekiti state is offering a 50% subsidy on improved cocoa, oil palm, and cashew seedlings to revitalise agriculture and attract new farmers.
– The program aims to replace aging trees and boost yields, capitalising on the strong global cocoa market.
Ekiti state governor, Biodun Abayomi Oyebanji, has announced a significant initiative to support farmers in the state. This translates to a 50% subsidy to be applied to the cost of improved oil palm, cocoa, and cashew seedlings distributed to farmers during the current planting season.
According to the state’s commissioner for Agriculture and Food Security, Ebenezer Boluwade, the program is part of a broader strategy to revitalise the state’s agriculture sector and to create employment opportunities.
He further stated that the hope is to return the state to its golden era of the 1970s, when it was a leading cocoa producer in Nigeria.
Essentially, the subsidy program targets the replacement of aging trees in existing plantations and those lost to burning. The use of improved seedlings with shorter gestation periods is expected to increase yields. These changes are aimed at attracting new, committed young farmers to cocoa production.
Meantime, Boluwade encouraged both established and new farmers to participate in the program. He highlighted additional government support in the form of agrochemicals to combat plant diseases and pests, ultimately leading to improved crop yields.
Furthermore, he noted the current favourable conditions for cocoa farmers, as the global cocoa market is thriving, with international prices reaching $10,000 per metric tonne.
Finally, farmers in the state interested in the subsidy program are advised to contact the Tree Crops Department of the Ministry of Agriculture and Food Security for details and payment information.
