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“We plan to be bullish about getting investments into the State and further reducing the unemployment rate within the State. We are fully committed to making Oyo State the gateway to sustainable investments in Nigeria.”
Guided by the Oyo State Roadmap for Accelerated Development 2019-2023, under Governor Seyi Makinde’s watch, the Oyo State economy has grown from N2.75 trillion in 2019 to N4.05 trillion as of Q3 2022, and investors are smiling to the bank.
Despite the COVID-19 pandemic, Oyo State’s Internally Generated Revenue grew by over 90% between 2019 and 2022, while a direct assessment tax of over a quarter of a billion Naira for the year 2022 speaks to a growing robust middle class.
Between 2019 and 2022, Oyo State witnessed an influx of MSMEs and Large Scale Industries into the state. For the first time ever, attracted a multinational oil and gas company, Shell Nigeria Gas Limited, into the state to execute a gas project. In the same period, Psaltry International expanded its operations to build the first cassava-based sorbitol factory in Africa in the state.
To further showcase the investment opportunities in Oyo State to the world and provide an All-Access Card to sustainable investments in Oyo State, the Oyo State Government, through the Oyo State Investment and Private Public Partnership Agency (OYSIPA), is hosting a global investment summit in London, UK themed “Accessing the Pioneer Advantage to Sustainable Investments in Oyo State”.
This summit will bring together private sector players in the Agribusiness, Solid Minerals, Sustainable Energy and Tourism sectors, development partners, financial institutions, policymakers and government to strategically engage on issues around sustainable development in Oyo State.
This summit is set to galvanise investors to take advantage of the numerous investment opportunities in Oyo State in the focus sectors and get an in-depth view of the incentives, support and after-care structures of the Oyo State Government.
OYSIBS will address all the questions investors have about investing in Oyo State and broaden their outlook regarding these opportunities. It will prove to be a landmark knowledge-sharing event between government, private sector and development partners in an open and transparent manner.