The Adagba of Iyanfoworogi, Ile-Ife in Osun State, Oba Adetayo Oladele, has launched a N1 billion investments company for indigenes of the ancient town.
The company, Ife Heritage Investments Ltd., which already has some indigenes as shareholders, was launched with the cultivation of a 30 acre maize and cassava farm in Iyanfoworogi, Ile-Ife on Monday.
Oba Oladele, who is the chairman of the company, explained that the firm’s share capital will progress to N1 billion with time. He disclosed that the firm would invest in mining, agriculture and businesses in the agric value chain starting from his kingdom, Iyanfoworogi.
The monarch pointed out that the farms would transform economic activities in the community while also creating direct and indirect jobs for residents.
He explained that Ile-Ife indigenes in the Diaspora combined resources to establish the company as a way of giving back to the society and also providing jobs for the teeming youths in Iyanfoworogi and surrounding communities in Ile-ife.
He said: “our goal is to raise N1 billion but we are starting off with the take-off funds of N100 million. Some of us who are entrepreneurs and indigenes of Ile-Ife in the UK, US and other Western countries thought there is a lot of good things we can do collectively. To start big company might be difficult for individuals. That is why we pulled resources together to start something big in Ile-Ife.
“We chose Iyanfoworogi as a pilot. We are still going to other communities in Ife. Being the Adagba of Iyanfoworogi, it is easier to start from where you know the terrain very well. We would start with the planting of cassava and maize. We are going to dwell into animal husbandry, piggery and fishery. We just acquired another 10 acres of land for animal husbandry.
“Our goal is not to plant and sell. We want to be planting and processing in commercial quantities. That would create more jobs for the people in the community and other adjourning towns. We are extending our frontiers even beyond Osun State as we progress. This is one of our sites here, but at least no fewer than 100 people will be employed as we are starting with launching and more individuals would be employed as we blossom,” Oba Oladele explained.
In his remark, the head of the interim management, Mr Niyi Murele, said: “What we are doing is to bring people together to scale up agricultural productivity. Ife is naturally an agro-allied town but mechanised farming is not really being done here.
“What we are bringing as a company is capital, technology and entrepreneurship in order to collaborate with the farmers in the community so that they can actually scale up their productivity for the benefit of the communities.”
The representative of the Chief of Staff to of Osun State governor and the Managing Director of Osun State Investment Company Limited, Dr Tunde Faleye, said establishment of Ife Heritage Ltd. aligns with the vision of the State of Osun, pointing out that it won’t be difficult to get the attention of the government. He said he is happy because the business was a form of youth empowerment, adding that it would project Iyànforowogi, Ile Ife and Osun State to the world.
Packaged by Dare Raji
