Oyo Becoming One Of Nigeria’s Fastest Growing Economies — Makinde

Oyo State governor, Engr Seyi Makinde has disclosed that his administration had been working hard towards making the state’s economy one of the fastest growing economies in the country.

The governor maintained that since the inception of the administration in 2019, it had placed a strong emphasis on infrastructural development, innovations and investments as a measure to build a vibrant economy.

Makinde added that the state had also focused on agribusiness with a view to achieving food security and economic stability, noting that the government will not relent in its vision to achieve sustainable development in the state.

Represented by his deputy, Barr. Bayo Lawal, the governor stated this when he declared open the Oyo State International Trade Fair tagged: EXPOYO 2025, with the theme: “Achieving Food Security and Economic Stability in Oyo State Through Massive Investments in Agriculture,” at the EXPOYO Permanent International Trade Fair Complex in Ibadan.

Makinde said that while the issue of food security was the responsibility of all stakeholders, the government has created an enabling environment for businesses as reflected in the ongoing improvements in critical sectors like transportation, energy, agriculture, and technology.

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He maintained that the massive investment on infrastructure development through interconnecting the zones of the state with good roads, the investment on security of lives and property as well as the introduction of policies to ensure ease of doing business by the administration were necessary requirements for achieving food security and economic development.

“The theme of the fair “Achieving Food Security and Economic Stability in Oyo State through Massive Investment in Agriculture,” encapsulates the vision of the present administration, which seeks to make Oyo State the fastest growing economy in Nigeria.

“We intend to boost commerce to create a sustainable ecosystem where businesses (large and small) can thrive, empowering communities and contributing to the economic development of the state and beyond.

“Since the inception of our administration, we have placed a strong emphasis on infrastructural development, innovations and investments in order to build a vibrant economy.

“Our efforts to create an enabling environment for businesses are reflected in the ongoing improvements in critical sectors like transportation, energy, agriculture, and technology.

“Therefore, the development of the State Industrial Park, as well as our ongoing efforts to improve our roads and energy systems, are part of our vision to make Oyo State a hub for industry and commerce,” Makinde said.

He added that the state government embarked on friendly policies to aid ease of doing business in the state, while also put in place a trade grievance redress mechanism to eradicate trade disruptions, trade harassment and unauthorised payment within the state.

“Let me re-emphasise that this trade fair is not just a platform for international businesses, it is also a unique opportunity for local entrepreneurs to gain exposure, build networks, and access the global market.

“It is noteworthy to celebrate the growth of trade and industry; we are equally committed to ensuring that this growth is sustainable and inclusive.

“We are focused on creating a green economy that respects our environment, promotes renewable energy, and encourages businesses to adopt sustainable practices,” he stressed.

Governor Makinde assured that as part of its vision to grow the economy of the state, he will continue to place priority on policies and programmes that encourage entrepreneurship and opportunities for youths.

He added that the fair will also be used as a vehicle for trade exchange, technology transfer, and regional integration.

Makinde recalled how the state had begun to explore the opportunities presented by the African Continental Free Trade Area (AfCFTA), assuring that the state government remains committed to improving the trade routes and enhancing regional connectivity to become preferred destination for investment and trade.

The governor commended the organisers of the EXPOYO 2025, exhibitors, sponsors and all stakeholders who made the event possible, while he also encouraged exhibitors to make the most of the fair to showcase their products, build meaningful connections, and explore new avenues for collaboration.

Earlier, the Commissioner for Investment, Trade, Cooperatives and Industry, Mr Adeniyi Adebisi said the government was diligently working to create policies, infrastructure and a business climate that will position Oyo State as a destination of choice for investment both home and abroad.

He called on exhibitors, investors and partners to make use of the opportunity to connect with potential business partners, share ideas and explore collaborations to promote their products and services to a wider audience.