According to His Excellency Governor Seyi Makinde, “we are not productive enough.” This assertion raises significant concerns, especially in light of recent developments involving Dr. Debo Akande, the Director and CEO of the Business Incubation Platform (BIP) at the International Institute of Tropical Agriculture (IITA) and Executive Adviser on Agribusiness to the Oyo State Governor. It appears that the same agribusiness initiatives purportedly brought to Oyo State are being diverted to Niger State, under the guise of a partnership with Brains and Hammers, a company allegedly introduced to Oyo State by Dr. Akande.
The IITA Business Incubation Platform, based in Ibadan, Oyo State, under Dr. Akande’s leadership, has entered into a Memorandum of Understanding (MoU) with Brains and Hammers Green Farm for the development of a massive 3,000-hectare cassava production project in Niger State. This private engagement, aimed at profit generation, will create jobs and involve significant financial investments. It raises questions about whether the profits from the Fashola project in Oyo State are being channeled into this new venture in Minna.
Brains and Hammers Ltd is the same company renovating the Fashola Farm Settlement, now renamed the Fashola Agribusiness Industrial Hub. This multi-billion Naira project, flagged off in June 2021, was the first of nine farm settlements the current administration promised to transform into globally competitive agribusiness parks. Governor Makinde secured approval from the Oyo State House of Assembly for the deployment of a NGN 7.6 billion loan sourced from the Central Bank of Nigeria in 2017 under the Commercial Agricultural Credit Scheme, initially secured by the late Governor Ajimobi’s administration.
The fact that Brains and Hammers, after receiving a multi-billion Naira contract in Oyo State, is now investing in a 3,000-hectare cassava farm in Niger State raises significant concerns. The Oyo State Ministry of Finance should investigate whether Brains and Hammers has paid the appropriate taxes, such as VAT, on their Oyo State projects. Additionally, there is a potential conflict of interest given that Dr. Akande, the CEO and Director of the IITA Business Incubation Platform, is also the Executive Adviser on Agribusiness to the Oyo State Governor.
Moreover, the Fashola Agribusiness Industrial Hub, where Brains and Hammers commenced work in June 2021, remains incomplete and uncommissioned, allegedly due to various conflicts and issues. It is reported that Hollar Gabriels Ltd, the monitor on behalf of OYSADA, has abandoned the site and returned to the United Kingdom amid unresolved disputes. Additionally, luxury buildings within the Hub, initially priced at NGN 90 million each by Aigle and Sage Ltd, reportedly have no buyers. The construction of a golf course and other structures at Fashola Settlement, funded by taxpayers, appear to provide no direct benefit to the people.
The Vanguard reported on June 6, 2021, that the industrial hub at Fashola, constructed by Brains and Hammers, was the first of nine integrated agro-industrial parks planned across the state by the Oyo State Agribusiness Development Agency. Despite having NGN 7.6 billion in funds disbursed from Wema Bank, the government has taken almost four years to unsuccessfully renovate one of the nine farm settlements. Now, the head of OYSADA, using his role as Director and CEO of another organization, is partnering with the company renovating Fashola Farm Settlement to move a major agribusiness opportunity to another state.
In light of these developments, it is essential to critically examine the productivity and effectiveness of agribusiness initiatives in Oyo State. Ensuring transparency, accountability, and the prioritization of local benefits is paramount for the sustainable development of the region’s agricultural sector
