80% arable land which facilitates large scale production of cash and food crops.
The State has a mix of favourable ecological and climatic conditions – from swampy land to the tropical rainforests to the savannah making it suitable for different types of crop production. There are various opportunities for large scale agricultural production, processing, and reviving moribund production and processing plants.
RECENT DEVELOPMENTS IN THE AGRIC SECTOR
- Ondo State has embarked on the ‘Red Gold Project’ scaling its oil-palm from 200,000 metric tonnes to 320,000 metric tonnes.
- Ondo State is the most efficient cassava producing state in Nigeria with an average yield of 17.8 ton/hectare (country average is 11 ton/hectare)
- To sustain its leadership role in cocoa production, the State has embarked on a ‘Cocoa Revolution Project’ targeted at rehabilitating moribund cocoa plantations in partnership with IITA, USAID and others.
- With an output of 5 million metric tonnes in 2021, Ondo State is one of the largest producers of cassava in Nigeria.
- The State Government has partnered with the National Palm Produce Association of Nigeria (NPPAN) to:
- increase the capacity of oil palm production in the state,
- triple the existing processing capacity of the companies operating in the State in three years,
- increase cultivated oil palm plantations by at least 300% in two years and diversity into all products along the entire oil palm value chain
- conversion of agricultural and factory waste into a Biomass Gasifier Power plant.
INVESTMENT OPPORTUNITIES IN AGRICULTURE
- Rice: With national demand increasing at about 5% annually, Ondo State is interested in partnering with investors to scale up rice production and processing.
- Oil Palm Production – opportunities for large scale oil palm production and processing to achieve a targeted annual oil palm produce of 320,00 metric tonnes
- Production and processing of rubber to achieve targeted annual production of 60,000 metric tonnes
- Cocoa value-chain processing for local consumptionand export
- Industrial production of starch, sweeteners, ethanol (bio-fuel), High Quality Cassava Flakes (HQCF), and dried chips.
- Timber opportunities for local and foreign investors to set up timber processing plants, furniture factories and fibre boards.
- Forestry: With Oluwa Forest Reserve alone at 829 square kilometers, Ondo State has one of the largest forest reserves in the country. The state is interested in partnering with investors for re-afforestation and sustainable management of this natural resource.
Investment House, Alagbaka, Akure, Ondo State
contact@ondipa.org
Follow us:
SECTORS
FREE CONSULTATION
ONDIPA was structured to meet all corporate best practices to ensure seamless integration of potential investors, development partners and investments into the growth and development of the Ondo State economy.
Copyright © ONDIPA 2023
