Ekiti Gov. introduces 50% subsidy on seedlings to boost agriculture

Governor Biodun Oyebanji of Ekiti State has launched a 50% subsidy initiative on oil palm, cocoa, and cashew seedlings for the current planting season.

This strategic move aims to rejuvenate tree crop production, create employment opportunities, and restore Ekiti’s status as a premier cocoa producer.

Announcing the program, Mr. Ebenezer Boluwade, the Commissioner for Agriculture and Food Security, highlighted that the subsidy is designed to replace aging trees in existing plantations and those lost to bushfires. The new seedlings, known for their shorter gestation periods, are expected to significantly enhance productivity.

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Farmers are encouraged to take full advantage of this scheme, especially given the current global cocoa market boom, with prices hitting $10,000 per metric tonne. This surge presents a lucrative opportunity for farmers to maximize their earnings.

In addition to the subsidized seedlings, the government will also provide agrochemicals to help farmers tackle fungal diseases and pests, further boosting crop yields. The initiative is open to both seasoned farmers and newcomers.

Interested participants can obtain payment information from the Tree Crops Department at the State Ministry of Agriculture and Food Security.