Kemi Olaitan in Ibadan 

The Chief Executive Officer (CEO) of Psaltry International Company Limited, Mrs. Oluyemisi Iranloye, has announced the commencement of an initiative to empower 15,000 young women in cassava cultivation in Oyo State.

The on-lending initiative was supported by the National Agricultural Development Fund (NADF) and First City Monument Bank (FCMB) through what she called the Psaltry-IDH-Mastercard, targeting young women between the ages of 18 and 35 years to cultivate 2,000 hectares of cassava.

Iranloye while speaking at the 20 years anniversary of Psaltry International Company Ltd, which coincided with the flag-off of the NAFD-FCMB support for the Psaltry-IDH-Mastercard initiative at the Psaltry plant, Alayide village, Awaye, appreciated the NADF and other stakeholders for supporting the project and being there for the company on its many other projects till date.

She added that the funding would cover plowing of land, addition of fertilizer, chemicals and other inputs for the 2000 hectares of cassava.

“I want to sincerely thank everyone here and all who have played a role in Psaltry’s journey, I also extend my appreciation to the Executive Secretary/CEO of the National Agricultural Development Fund, Mr Mohammed Ibrahim, especially as this celebration coincides with the flag-off of the NADF-FCMB support for the Psaltry-IDH-Mastercard initiative, empowering 15,000 young women in Oyo State, aged 18 to 35, in cassava cultivation,” she said. 

She indicated that in the passing years, Psaltry has achieved the goal of pushing cassava floor to replace manufacturing companies’ dependence on wheat floor, production of food-grade starch for the likes of Nigerian Breweries and Nestle as well as cassava-based sorbitol for toothpaste production and high-purity hydrogen for many industries.