In alignment with President Bola Tinubu’s Renewed Hope agenda, which prioritizes job creation and food security, stakeholders from Ibarapa communities in Oyo State have joined forces with the National Agricultural Land Development Authority (NALDA) to develop 15,500 hectares of virgin land for agricultural purposes.
This initiative, spearheaded by Stallion Ridge Limited, represents the largest agricultural investment in Oyo State under the current administration. It is poised to significantly contribute to the state’s economic growth and enhance national food security.
Chief Akinyemi Akinlabi, Chairman and CEO of Stallion Ridge Limited, announced that the multi-billion naira project will take place in Ibarapa Central and North Local Government Areas, with work set to begin between April and May. The initial phase will focus on land clearing.
Akinlabi further revealed that the land for the project has been allocated as follows: Igangan will provide 6,000 hectares, Igbole 5,000 hectares, and Dr. Olusola Ayandele of AAA Farms has contributed 2,500 hectares.
However, the Oyo State College of Agriculture and Technology has made available 2,000 hectares, further solidifying the project’s potential for large-scale agricultural development.
The project is expected to generate more than 16,000 direct jobs for farmers, as well as create employment for an estimated 5,000 factory workers in agro-allied industries across the four farm estates.
Akinlabi stated that it is projected to contribute over N18 billion annually to Nigeria’s GDP, further bolstering efforts to address food insecurity while empowering rural communities.
This large-scale agricultural initiative aims to boost food production, create job opportunities, and drive economic growth in the region, supporting the government’s commitment to sustainable agricultural development and self-sufficiency in food production.
