Ekiti State University Launches N1bn Agro-Tech Fund
The Chancellor of Ekiti State University, Dr. Tunji Olowolafe, has unveiled a N1 billion Innovation Fund aimed at empowering agro-tech enterprises established by students and graduates of the university. The announcement was made during the 28th convocation ceremony of the institution held on April 3-4, 2024.
Dr. Olowolafe emphasized the critical need to foster innovation and entrepreneurship in agriculture to enhance food security across Nigeria. He highlighted agriculture’s pivotal role as the backbone of the nation’s economy and expressed optimism about the potential for innovation and inclusive growth within the local agricultural community.
The N1 billion Innovation Fund is designed to support agro-tech startups founded by current students and recent graduates of Ekiti State University. Dr. Olowolafe encouraged students and academics to actively participate in food production efforts and proposed the optimization of the university’s fertile lands for agricultural purposes.
Under this initiative, students will have the opportunity to lease small plots of land for agricultural activities, allowing them to gain practical farming experience while earning a livelihood. Dr. Olowolafe emphasized the importance of integrating agricultural practices into academic pursuits and urged students to explore diverse opportunities within the agricultural value chain.
Additionally, Dr. Olowolafe announced plans to engage 100 of the university’s brightest minds in global business process outsourcing to further contribute to the economy. The launch of the N1 billion Agro-Tech Fund reflects the university’s commitment to promoting innovation, entrepreneurship, and sustainable agricultural development.
