Oyo Govt Partners Chinese Firm To Boost Economy, Create 5,000 Jobs

Oyo State government and Euro FMCG Universal Beverages Limited, a Chinese company based in Singapore, have entered into a partnership to develop the Oluyole Free Trade Zone and boost the state’s economic prosperity.

The chief of staff to the Governor Otunba Segun Ogunwuyi, represented by the commissioner for Budget and Economic Planning, Prof. Musibau Babatunde, stated this while handing over 500 hectares of land along the Lagos-Ibadan Expressway, Oluyole local government area, to Euro FMCG under the Public-Private Partnership arrangement.

According to him, the partnership aligned with the state’s vision to drive and expand its economy, as outlined in Governor Seyi Makinde’s Roadmap to Sustainable Development Agenda (2023-2027).

He said the land for the Oluyole Free Trade Zone was acquired during the last administration, adding that the Makinde-led administration would clear all the accumulated and outstanding debts, thus allowing the state to utilise the facility by allowing investors to take over the space for industrialisation purposes.

Ogunwuyi, while assuring the investors of maximum security and support of the state government to fast-track the project, warned land grabbers to steer clear of the area or face the full wrath of the law.

He said: “We are here to hand over the 500 hectares of land to the Universal FMCG Nigeria Limited, which will be the development partner with the Oyo State Government for the Oluyole Free Trade Zone.

“This is another milestone from the administration of Governor Seyi Makinde to industrialise Oyo State by engaging in public-private partnership that will bring about many opportunities for the Oyo State economy.

“Don’t forget that the first pillar of the Oyo State Roadmap to Sustainable Development (2023-2027) is economic expansion, and this is part of what we are trying to do. We want to industrialise Oyo State through economic development and partnership with companies like this.

Earlier, the director of Operations and Business Development, Euro FMCG Universal Beverages Limited, Mr Rajesh Koleti, thanked Makinde for his unwavering commitment to creating a conducive environment for investors and ensuring the ease of business in the state.

He stated that the project would include warehouses, agricultural processing, and logistics and would create 5,000 direct jobs for state residents within the next 24 months.