Ekiti young farmers made N200m profit in 2024 — Oyebanji

Ekiti State’s commitment to youth-driven agribusiness is yielding tangible results, as young farmers under the state’s agricultural scheme generated over ₦200 million in 2024 from produce sales. Governor Biodun Oyebanji highlighted this achievement while reaffirming his administration’s focus on food security, agribusiness development, and economic empowerment.

The success stems from a structured cluster farming model, where the government supports young farmers by providing land preparation, tractorization, and quality seedlings. The revenue generated came from off-takers, processing plants, and government purchases for storage, ensuring a ready market for the farmers.

With the program’s success, interest has surged—over 2,000 young farmers have expressed willingness to join in 2025. Governor Oyebanji also disclosed the state’s plan to leverage technology partnerships for further agricultural transformation, following discussions with Origin Tech Group.
Source- Tribune

Expert Review for Agri-Food Stakeholders
Ekiti’s agribusiness model serves as a blueprint for youth inclusion, structured farming, and market-driven agricultural development. The initiative offers key insights for agribusiness stakeholders:

1. Agriculture as a Business, Not Just Farming
   – The program shifts agriculture from subsistence farming to a structured agribusiness model by ensuring market linkages, value chain integration, and financial returns for participants.
   – This approach de-risks farming for young entrepreneurs, making it an attractive and profitable venture.
2. Government-Backed Value Chain Strengthening
   – By securing off-takers and investing in farm infrastructure, the state ensures stable demand and minimizes post-harvest losses.
   – The government’s storage strategy supports price stability, reducing the risk of glut.
3. Youth Empowerment through Agripreneurship
   – The success of the pilot cluster farms shows that structured support can attract more youths to agriculture, addressing unemployment while boosting food production.
   – Programs like this help reposition farming as a viable business, rather than a last resort for employment.
4. Opportunities for Agribusiness Investment
   – With 2,000 new farmers expected in 2025, there are investment prospects in input supply, mechanization services, processing, and aggregation.
   – Agritech companies can leverage digital tools for farm management, extension services, and precision farming solutions.
5. Scaling Up for Food Security & Industrialization
   – With continued investment, Ekiti’s approach could enhance food production beyond state needs, positioning it as a hub for agro-processing and food exports.
   – Other states can replicate this model to drive national food security and agribusiness development.

Key Takeaways for Stakeholders

1. Farmers & Agripreneurs: This model offers a low-entry risk opportunity for young people looking to venture into farming.
2. Investors & Agri-Tech Firms: The structured model creates a viable market for farm inputs, mechanization services, and digital agriculture solutions.
3. Policy Makers: A replicable template for youth-driven agriculture, showcasing how targeted interventions can turn farming into a profitable enterprise.

Ekiti’s initiative proves that agriculture-driven economic transformation is possible with the right strategies. As more young people engage in structured farming, the sector could become a key driver of job creation, food security, and industrial growth across Nigeria.