Oyo Governor assures investors of business-friendly environment 

By Olubunmi Osoteku, Ibadan

Oyo State Governor Seyi Makinde

Governor Seyi Makinde of Oyo State has expressed the readiness of his administration to make the State an investment-friendly destination in order for businesses to thrive.

The Governor gave the assurance while receiving a compendium of investment opportunities at an event christened, Oyo-Ile Investors’ Forum, held at the Government House, Agodi, Ibadan.

Governor Makinde was accompanied to the event by top Government functionaries, including commissioners and special advisers.

Speaking on his intention to liberate the State economically, the Governor said his intentions is to harness the potentials and proximity of the State to Lagos to build a viable Lagos-Ibadan economic hub by improving the security architecture that would allow investment and economic prosperity in the State.

“Economically, we want to create a Lagos-Ibadan Economic hub and with this, we are well on our way. In Oyo state, we have put certain things in place since we came in” he said.

He added that before his first 100 days in office, he would unveil a new security architecture for the State which would ensure business and investment success and prosperity.

The Governor said, “I can give you the assurance that this economy is going to grow rapidly because we are looking seriously at security and efforts are on to ensure that before our first 100 days in office, a new security architecture is being launched for Oyo State.”

He assured the would-be investors to put their minds at rest in terms of the chances of business success in the State.

Creating a conducive business environment

In a remark, the Director, Oyo-Ile Investment Forum, Mr Yinka Owodunni, said findings from the key economic drivers, including access to health, job creation and effective waste disposal methods, among others, from the last forum which held earlier in May, show positive signs of good rewards for investments in the State.

Owodunni remarked that, “The key drivers of the investment forum all gathered in May 2019 to help Governor Seyi Makinde drive his economic agenda in the State and we came up with this Oyo-Ile Investment Forum, which is a non-governmental, self-member-funded organization.”

He called attention to the various driving factors that accumulated from the meeting of the various investors that was held in May, 2019.

Owodunni disclosed that, “What we found out was that the potentials of the Investors Forum is about $5billion. We were able to aggregate all the investment potentials that could come into the State over a four to eight year period and its going to be about $5billion.”

Speaking about job creation, the Director projected that if some or all of the investments come to fruition, about 200,000 direct jobs and one million indirect jobs would be created.

On access to healthcare, he said: “We have certain healthcare investors in our midst and we project that if we work really hard to bring all these investments into the State, we will be able to increase access to healthcare from the current 45 percent to about 85 percent.”

Owodunni further revealed that effective waste disposal, which is another driver, could be grown to about 90 percent, and this would make the environment safer for citizens.

“We also tracked cooking gas and LPG filling stations which is used by most developed countries as indicators for development. So, we are projecting a rise from the current three percent to 70 percent and then to 99 percent in the next four to eight years respectively. With all these indicators, we can be sure that there are enormous potentials for economic prosperity in the State,” he added.

The event had in attendance more than 50 local and international potential investors, including business owners, corporate organisations, development agencies and financial institutions, among others, from different parts of the world.


Emmanuel Ukoh