In a monumental step towards ecological restoration and sustainable development, the Ekiti State Government has officially launched a new Public-Private Partnership (PPP) initiative focused on reforesting significant areas within the state.
The Memorandum of Understanding (MOU) was signed recently with the innovative timber and agriculture company, MBH Global Resources Limited. This partnership aims to plant thousands of trees in deforested areas, preserve existing forested regions, create hundreds of job opportunities, and expand the state’s revenue base.
The ambitious project will involve the replanting of up to 1,000 hectares of deforested landscapes with a diverse mix of exotic and indigenous economic trees.
This collaborative venture will be jointly managed by MBH Global Resources Limited and the Ekiti State Forestry Commission, starting with an immediate focus on planting 100 hectares within the Ise Forest Reserve located in the Ise-Orun Local Government Area.
Governor Biodun Oyebanji, represented by the Secretary to the State Government, Prof. Habibat Adubiaro, signed on behalf of the government. Additionally, Mr. Adekunle Sunday, the Executive Secretary of the Ekiti State Forestry Commission, also signed the MOU, reinforcing the state’s commitment to the initiative.
During the signing ceremony, Governor Oyebanji expressed enthusiasm for the initiative, stating, “The green economy is a great opportunity for Ekiti to shine. Our natural assets can provide livelihoods while protecting our environment.
Echoing the Governor’s sentiments, Prince Adebanjo Adejuwon, CEO of MBH Global Resources, praised the administration’s dedication to sustainable projects: “Governor Oyebanji’s commitment to green investment is inspiring.
The agreement, spanning 30 years, ensures a consistent revenue stream for the state, as 30% of the timber’s value will be remitted to Ekiti State’s coffers.