Oyo Govt assures Chinese investors enabling environment

The Oyo State Government has assured local and foreign investors of a conducive business environment and adequate security in the state. 

The assurance was given when the Governor of Oyo state, Seyi Makinde, received thirty-one Chinese investors at the Governor’s office, Agodi, Ibadan, on Wednesday.

Governor Makinde, who was represented by his deputy, Barr. Abdul-raheem Adebayo Lawal, stated that the current administration has laid a foundation for socio-economic growth through significant investments in various sectors. 

He emphasized the state’s readiness to engage with investors, saying, “Our administration is open to discussions with investors to further fast-track the economic growth of the state.”

The Deputy Governor highlighted Oyo’s vast agricultural land, solid mineral deposits, and favorable business environment. 

He noted that the state has massive deposits of lithium, tantalum, and iron, particularly around Irawo, presenting numerous investment opportunities.

Lawal said: “With 80% of Nigerians engaged in agriculture, Oyo’s vast land and research institute make it an ideal location for agricultural investments.

“The state boasts a well-developed road network, especially in Ibadan, and is working on independent energy supply to cater to the entire city.

“Oyo State ranks among the top three safest states in the country, with minimal trouble spots.

“A gas pipeline partnership with Shell will ensure a stable energy supply, benefiting governmental institutions within a 10km radius.

“The state is upgrading its airport to international standards to boost trade.

“A rail corridor in Moniya connects Ibadan to Lagos’ seaport, enhancing trade facilitation.”

The Chinese investors, led by Mr. Jason Khu, expressed interest in developing Oyo State through their free trade zone project, covering 2000 hectares along the Ibadan expressway. 

They aim to promote business in Africa and leverage Nigeria’s growing production capacity.

Mercy Alexander, who was also part of the team, added that their goal is to establish one of Nigeria’s best trade zones, capitalizing on Oyo’s potential. 

However, they require improved logistics, including security measures, to accommodate potential investors.

Present at the meeting were Commissioner for Trade and Commerce, Hon. Adebisi Adeniyi, Commissioner for Agriculture, Barr. Olasukanmi Olaleye, and other top government officials.