Oyo State Governor Seyi Makinde has said the state was prepared to take full advantage of the African Continental Free Trade Area (AFCFTA), maintaining that the state had become a prime investment destination in Nigeria.
The governor, Makinde, who spoke at AFCFTA’s conversation with Africa Forum, held in Gaborone, Botswana said frantic efforts were being made by his administration to make the state investor’s haven.
Makinde in a presentation made on his behalf by his chief of staff, Hon. Segun Ogunwuyi, while speaking on the topic ‘Scaling Up Production For the AFCFTA Market: Opportunities in Oyo state, Nigeria’, listed renewable energy, agriculture and agribusiness, real estate, tourism, mining and education sectors as areas with key investment opportunities in the state.
Makinde also mentioned the Ibadan Dry Port, ancillary aviation facilities at the Ibadan Airport, Ilutuntun Business District, road and transport infrastructure targeted at economic development as some of the key investment opportunities in the state.
The governor further highlighted the key investment opportunities in the energy sector to include independent power projects, the potential 450 megawatts capacity Ikere Gorge Dam, other dams, waste to energy, refuse-derived fuels as well as wind and solar power farms.
In the agribusiness sector, the governor listed cassava value chain, including cassava to ethanol, flour and starch, as some of the investment opportunities.
He also named large poultry processing, large scale industrial cash and food crop farming, industrial aquaculture farming and cashew nut processing, among other opportunities in the agriculture/agribusiness sector in the state.
According to him, Oyo state has comparative advantage across all the areas of investment with ongoing massive infrastructure development targeted at economic growth including the ongoing upgrade of Ibadan Airport, the federal government-constructed Lagos-Ibadan railway line, which connects Lagos to the Inland Dry Port, Ibadan.