Ekiti State Government has announced plans to introduce a revolving loan scheme for market women as part of a broader agribusiness initiative tied to its ongoing ranch development project in Irele Ekiti.
The initiative is being implemented in partnership with Ekiti Kete Livestock Development Company Ltd, with the state approving about 250 hectares of land for the establishment of a modern cattle ranch. The Commissioner for Agriculture and Food Security, Ebenezer Boluwade, disclosed details of the project, noting that it aligns with Governor Biodun Oyebanji’s push to strengthen food security and attract investment into the agricultural sector.
Boluwade said the ranch, located in Irele Ekiti, is designed to modernise livestock production while addressing the long-standing farmers-herders crisis through a shift from open grazing to a structured ranching system. He added that the project would include grazing paddocks, pasture development, cultivation of grasses and legumes, as well as hay and silage production. Hybrid and exotic cattle breeds are also expected to be reared for meat production.
He noted that beyond improving livestock practices, the ranch is projected to create jobs for youths and residents, while driving economic activities within the host community through corporate social responsibility efforts.
Meanwhile, Chairman of the company, Ranti Omole, confirmed that compensation payments have commenced for individuals affected by the project. “We are committed to ensuring that the host community benefits directly from this investment,” he said, adding that the revolving loan scheme would provide financial support for market women to expand their businesses and improve livelihoods.
A tripartite Memorandum of Understanding (MoU) has been signed between the state government, the company and the host community to define operational standards and ensure compliance.
Reacting, the Onirele of Irele Ekiti, Oba Andero David, expressed confidence in the project, describing it as a major step toward community development, while assuring investors of full local support.
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