By RhemDy News
The Oyo State Government has approved an interest-freee strategic intervention loan totalling N3billion for an indigenous cassava factory at Ado-Awaye in Iseyin Local Government Area of the State.
The decision was carried out at the State Executive Council meeting on Wednesday, July 15, 2026.
According to a statement on Thursday on the official Facebook page of the State, the local factory which produces cassava flour and other derivatives, will benefit over 25,000 farmers, provide employment, and strengthen Oyo State's position as a leading cassava-producing State.
Similarly, the sum of ₦2,461,975,000 was approved by Council as an additional government equity investment towards the commissioning and commencement of commercial operations of Oyo Sugar and Derivatives Industries Limited.
The statement noted that the State government had previously approved and released the sum of ₦850million as an equity investment towards the revitalisation and completion of the sugar processing factory located in Iseyin town.
Also, SEC approved the construction of the 4-kilometre Idi-Igba/Akinmorin Road in Ilora, Afijio Local Government at ₦2,900,715,000.
The Council noted that approval was based on the socio-economic rejuvenation expected to result from the construction of the road.
In the same vein, an additional ₦26,768,370,000 was approved by the Council for the upgrade of the Samuel Ladoke Akintola Airport.
Oyo State Government said the approval covers additional works and the revised Bill of Engineering Measurement and Evaluation (BEME), including the construction of the 140-metre strip, runway safety area, blast pad, extra pipe covers, and other ancillary works.
For the healthcare initiative project to be financed through a €55 million French loan backed by the Federal Government, the statement stated that it will fund the modular construction and equipping of hospitals, including a Cardiac Centre, Emergency and Maternity Centres, Operating Theatres, and Intensive Care Units (ICUs).
"It will also provide 39 ambulances, 10 dental centres, 200 Primary Healthcare Centres, as well as emergency and maternity facilities at hospitals in Igboora, Ogbomoso, Oyo, Moniya, Kishi, Iseyin, Okeho, and Eruwa," the statement stated.
An initial take-off grant of ₦200 million was also approved to support the state-funded Shooting Stars Sports Club (3SC) in its pursuit of continental honours, which had been evasive for 27 years.
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