Oyo Gov’t Allocates Land to Cashew Merchants in Ogbomoso

The Oyo State Government has formally presented letters of land allocation to cashew merchants operating at the Ultra Modern Business Complex, Ogbomoso. The presentation marks the resolution of a long-standing land regularisation process between the merchants and the government.

The Honourable Commissioner for Investment, Trade, Cooperatives and Industry, Honourable Adeniyi Adebisi, said this today during a meeting held in his office in Ibadan with the leadership of the Cashew Merchants Association. He described the presentation as a major step toward economic growth, stressing that peace and dialogue remain critical to resolving disputes and driving development. “From the side of government, expansion of our economy is key. As earlier mentioned, the economy can only thrive in a peaceful atmosphere,” he said.

Honourable Adebisi noted that after several engagements with the merchants, the government approved a reduced rate of ₦250 per square metre from the original ₦500, and granted a two-year moratorium, allowing payment to begin in May 2025 and run through April 2035. He affirmed that the allocation process is transparent, with no intermediaries involved, and commended the merchants for their patience.

In a symbolic gesture, the Commissioner presented the letter of allocation to the Chairman of the Cashew Merchants Association, Hon. Jide Akalaifa, while other merchants also received their individual letters during the meeting.

The Permanent Secretary of the Ministry, Mr. Olajide Mahmud Okesade, while addressing the merchants, applauded their maturity and cooperation throughout the process. He charged them to honour the lease terms and promised that the Ministry will continue to support agro-based businesses with opportunities for growth. “You have demonstrated patience and responsibility. As a Ministry, we are committed to helping legitimate businesses like yours thrive,” he stated.

Also speaking at the event, the Chairman of the Association, Hon. Jide Akalaifa, appreciated the government’s intervention and transparency, while the Association’s Spokesman, Mr. Jubril A. Arulogun, thanked the Ministry for listening to their requests and granting favourable terms.

With this move, the Oyo State Government has reaffirmed its commitment to inclusive economic development, providing structured platforms for local businesses to grow and contribute to the State’s internally generated revenue.