Ekiti Govt, ENSHET Global Sign MoU for Agro-Forest Investment Expected to Create 1,000 Jobs

THE Ekiti State Government has signed a 30-year Memorandum of Understanding MoU, with ENSHET Heights Global for the development of economic trees on a 100-hectare portion of the Ogbese Forest Reserve, marking another giant step towards sustainable forest development and boosting the state’s agro-economic value chain.

The agreement was signed on behalf of the Ekiti State Government by the Secretary to the State Government, Prof. (Mrs) Habibat Adubiaro, in the presence of the Executive Secretary, Forestry Commission, Mr. Sunday Adekunle while the
Chairman, Mr Oladapo Olasope, signed for Enshet Heights Global Ltd, as witnessed by Dr Tunmise Ayodele, MD/CEO Enshet Heights Global Ltd.

Under the agreement, the state government is granting ENSHET Global access to 1,500 hectares within the Ogbese Forest, out of which 100 hectares will be dedicated to the cultivation of high-value economic trees for commercial purposes.

The initiative, which is to be supervised at no cost by officials of the Ekiti State Forestry Commission, mandates ENSHET Global to cultivate only approved species and prohibits the planting of Indian hemp or any unlawful crop.

According to the terms, the investment will run from 1st August 2025 to 31st July 2055, subject to review every five years and renewable based on satisfactory performance.

Harvesting of any mature trees will be carried out jointly upon confirmation by an independent valuer and the Forestry Commission, who will issue the necessary permits.

It was agreed that any attempt to remove trees without due process or the state’s percentage entitlement will be deemed a breach and sanctioned in line with the Ekiti State Forestry Laws.

Both parties are committed to maintaining confidentiality, acting in good faith, and abiding by Nigerian laws regarding dispute resolution, which shall be settled through arbitration in Ado-Ekiti if required.

The MoU also includes provisions for termination should either party default on agreed obligations or fail to perform satisfactorily.

Importantly, arbitrary termination, especially after ENSHET Global has made substantial investment, would require the state to refund the investment as valued by jointly appointed independent assessors.

Speaking on the development, the Managing Director/CEO of Enshet Heights Global Ltd., Dr. Tunmise Ayodele, explained that the project is designed to develop, finance, cultivate, regenerate, process, and market cassava and its value-chain products; including cassava flour, starch, sorbitol, and ethanol; on up to 1,400 hectares of degraded portions of the Ogbese Forest Reserve.

He added that the initiative will be implemented alongside the planting of various exotic and indigenous tree species to support environmental sustainability.

According to Dr. Ayodele, the project is expected to directly employ over 1,000 Ekiti citizens, attract increased foreign direct investment and ultimately place Ekiti State on the global economic map, adding that the initiative is in complete alignment with Mr Governor’s shared prosperity agenda.