……as preparations towards commissioning of “Ounje Ekiti” retail outlet at Agric Olope Market reach top gear

In preparation for the commissioning of “Ounje Ekiti” retail outlet, the Ilu Eye Agro Trading and Aggregation Company owned by the Ekiti State Government has launched a Commodity Price Dashboard.

The initiative, anchored by the Food Security Committee established by Governor Biodun Abayomi Oyebanji, aims to capture daily market prices of food items sold in various markets across the state.

A statement made available to newsmen by the management team of the company on Monday, explained that the newly established dashboard will among other things provide primary data that will come in handy and be processed for the State Government to make informed decisions on how to manage the food inflation curve adding that the dashboard will also serve as Ekiti State’s version of the Consumer Price Index (CPI) that will mirror the National Bureau of Statistics’ model.

The statement noted that Government intends to intervene in the market when a particular food price is spiking without necessarily distorting the market’s variables and dynamics.

It said the Dashboard at present captures two major markets in Ado-Ekiti namely the Oja Oba and Agric Olope markets in Ado-Ekiti and the Shasha market in Ikere Local Government Area stressing that the cutting edge tool designed to provide real time information on status, progress and impact of all government will be expanded to feature other Local Government Areas soon.

It will be recalled that the Ekiti State Government set up Ilu Eye Agro Trading and Aggregation Company late last year, and the company presently has its aggregation warehouse at the old Textile complex in Basiri, Ado Ekiti while the retail outlet that will soon be commissioned by the State Governor at the Agric Olope market will kick off the whole concept in the state.

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It will also be noted that the Administration of Governor Abayomi Oyebanji is implementing the Food Security Initiative of the President Bola Tinubu led administration, by creating a market platform that will buy back Agricultural commodities from the farmers thus reducing the effect of the middlemen, reducing post-harvest losses and ensuring that farmers are assured of avenues to sell their produce, encourage food production and availability

The launch of the Commodity Price Dashboard and the upcoming commissioning of “Ounje Ekiti” retail outlet demonstrates the Ekiti State Government’s commitment to enhancing food security and supporting local farmers.