Oyo Will Protect Investors’ Interests With Strong Legislation – Makinde

Oyo State governor Seyi Makinde has said that his administration will protect investors’ interests so that a change of government will not impair their investments in the state.

The governor assured this while hosting Wamkele Mene, the Secretary General of the African Continental Free Trade Area (AfCFTA), who was in Ibadan.

The governor said, “I know that political risk is something that most investors don’t want to deal with. While here, I believe we can lock things up for the next 25 to 30 years and back it up by law. We have a legislative arm that is on the same page with the executive regarding how to develop our state.”

Speaking on the state’s comparative advantage, Governor Makinde said, “Oyo State is central in the geography of Nigeria and that of West Africa. We share a common border with the Republic of Benin, which means we have access to the West African subregion to develop the market.

“We are upgrading our airport in Ibadan to an international standard. Why we took that decision is not far-fetched. In Africa, three major airlines go everywhere.

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“The largest is Ethiopian Airlines, followed by Kenyan and Rwandan Airlines. Oyo State is bigger than Rwanda, but they have an airline that goes everywhere. Nigeria is in the centre geographically. So, how are we connecting through Ethiopia, Kenya, Rwanda or Morocco? Wherever you are going, you first go to the Far West or the Far East, and then try to connect elsewhere.

“We felt that, because of the geography and how much is spent on fuel and trying to connect, if we develop a Kigali-type airport here in Ibadan, we may be able to attract people who don’t have too much time to waste connecting.

“The air side will be ready in September; the terminal will be prepared in the second quarter of next year.

Earlier, Special Adviser to Oyo State Governor on International Trade and the AfCFTA, Ms Neo Tlhaselo, said Oyo State was ready to optimise the opportunities available in AfCFTA.

She added, “The success of AfCFTA will not be defined by declarations but by deliverables. Oyo State is known for being a pacesetter. We are privileged to be working with a governor who is such a visionary and implementer. So, we operate at the sub-national level where good governance is applied and production is encouraged.’’