The Ekiti State Government has announced that the Ilu Eye Agro Trading and Aggregation Company, established in 2024, has begun operations to tackle perennial post-harvest losses faced by farmers in the state.
According to Commissioner for Agriculture and Food Security, Ebenezer Boluwade, the company’s setup is part of Governor Biodun Oyebanji’s administration measures to ensure food security in the state.
Boluwade explained that the company aims to reduce post-harvest losses and prevent middlemen from exploiting farmers by buying produce at low prices and reselling at exorbitant rates.
The company will buy back selected agricultural commodities like rice paddy, beans, and palm oil directly from farmers across the state.
As Boluwade noted, “The initiative is a testament to the government’s dedication to creating food security and a sustainable food system in the state. The company’s social and commercial responsibilities are to make food available at special food markets, which will help bend the food inflation curve.”
The state government has invested in renovating warehouses and storage solutions to ensure safe food storage practices.
The ultimate goal is to transform the company into a commodity exchange, ensuring fair prices for consumers and seamless market access for farmers.
Boluwade highlighted that talks are underway with local and international partners to integrate digitization solutions, such as blockchain technology, to enhance trade settlement, supply chain management, and product traceability.
The company invites farmers’ groups, associations, and individuals to reach out through dedicated contact details.