In line with the vision of the Fayemi-led administration to attract
foreign investors to Ekiti State for its development, a Cotton Ginning
Factory has been approved for establishment in Itapaji Ekiti for the
processing of cotton products in the state.
This was disclosed by an Investor, Mrs. Lolade Adeleye at Itapaji
Ekiti, during the official flag-off of the Recovery of Cotton Outputs
for 2019 Cotton Planting Season under the Central Bank of Nigeria
(CBN) Anchor Borrower Programme by the National Cotton Association of
In her address at the occasion, Mrs. Adeleye said she was committed to
establishing the factory in the community, having put in over 5 years
of research in cotton and textiles across Europe and America, adding
that the species of the product grown in the South Western Nigeria is
the best in the world.
The potential Investor, a United Kingdom graduate of textiles and
garments, assured that the project would be successful, with a call to
farmers in the state, particularly, members of NACOTAN, to increase
their output to meet the level of raw materials needed for the running
of the Factory.
While appealing to the CBN, the State and Federal Government of
Nigeria to encourage Cotton Farmers by releasing adequate grants and
loans for increased production, the Industrialist thanked the
Traditional Ruler of Itapaji-Ekiti for releasing land for the take-off
of the Factory.
In his keynote address, the governor of the state, Dr. Kayode Fayemi,
said his government would continue to encourage Investors to the state
to fast-track Economic Development, by creating enabling environment
for the growth of their investments.
The governor, who was represented by the Commissioner for Agriculture and
Rural Development, Mr. Folorunso Olabode, disclosed that his
government has approved the issuance of the certificate of occupancy
for the land and as well directed the Ministry of Agriculture and
Rural Development to release Land for cotton planting this season.
Dr. Fayemi commended the cotton farmers for rising to the task of
supporting his government and that of the Federal Government at
reviving the moribund Textile Industries in Nigeria.
Delivering his goodwill message, the Commissioner for Investment, Trade and
Industry, Chief David Olusoga, emphasized that Ekiti government, under
the leadership of Dr. Kayode Fayemi, was desirous of supporting
serious investors by providing necessary logistics for the take-off of
their legitimate businesses in the state.
He commended the cotton farmers for their support to the government by
putting in their lots in wooing investors in the areas of Textiles and
Ginnery, with an assurance that the State Government would not relent
at intensifying its efforts in protecting their businesses.
In his message at the occasion, the Regional Manager of Arewa Cotton,
who was also the off-taker of the product, Pastor Bayo Olayemi,
revealed that the long staple cotton species found in Ekiti and other
South Western states of Nigeria are hot cakes for International
Textile Markets, compared to the short staple cotton found in other
parts of the country and across the globe, except Egypt.
Olayemi charged cotton farmers in the South West to intensify efforts
at reviving the sector, which he believed would also boost their
income and as well enhance the influx of foreign investors to the
He said that there were ready markets for cotton in Europe, America,
India, China and Brazil while cotton production was diminishing by the
day with an appeal for more people to be involved in cotton farming to
feed the proposed Ginnery.
Welcoming dignitaries to the flag-off, the State Chairman of NACOTAN,
Pastor Olorunfemi Michael, appealed to the CBN for timely release of
operational funds under the Anchor Borrower Programme of the Federal
Government, to allow timely planting in the coming season.
While enumerating some of the challenges the association faced in the
2019 Planting Season to include inadequate and late release of funds
by CBN, ineptitude on the part of some members and the invasion of the
farmland by Herdsmen which destroyed a large portion of the farm among
others, the State Chairman further appealed for more support of
government as the association was determined to cultivate 3000
hectares of farmland this season.
In his goodwill message, the Director, Development Finance of CBN, Ekiti
State Branch, Mr. Sowumi, commended the State NACOTAN for the success
recorded in the out-gone planting season, stressing that the
association was the only organization that succeeded amongst the
organized farmers that were empowered by the Apex Bank the previous
He assured that CBN would release adequate fund to the association
this year, having utilized the ones collected the previous year well
and paid back on time, which signifies a mark of hard work and
sincerity of purpose by the leadership of NACOTAN in the state.
Other dignitaries presented their goodwill messages, commending the
Association for taking the lead in revitalizing the cotton farming in
this part of the world, which would also encourage the localization of
Industries for job creation and wealth re-distribution.
As at the time of the flag-off, over 1000metric tons of cotton has
been harvested and ready for take-off to the international market
while the harvest is still on going in the farm