Being the Keynote Address by His Excellency Seyi Makinde, the Executive Governor of Oyo State Themed “Continuity and Institutionalisation” at #ITSOyoState2026 on Wednesday, 13 May 2026
I would like to begin by welcoming you once again to Oyo State.
Some of you here were part of the tour of the Oke-Ogun Zone. I hope you can now see why Oyo State is set to become the tourism capital of South West Nigeria in the coming years.
But now, I want to speak about something more fundamental.
Let me start by acknowledging a reality.
When investors consider opportunities within our environment, there is always an underlying question.
It is not always asked openly, but it is always present.
And that question is:
“What happens after this administration?”
Will policies continue?
Will agreements be honoured?
Will priorities remain consistent?
These are valid concerns.
Because investment, by its nature, is long-term.
And long-term investment requires more than vision.
It requires continuity.
And given the volatility of our political climate, we have had instances where one administration does its best to build systems and the next comes in and scuttles that. We saw that with the 110 kilometres Circular Road, conceived in the early 2000s. It was archived until two decades later.
Any private sector player who was hoping on working within that corridor would have been disappointed and their investment, lost.
So, when we assumed office, we understood that progress driven solely by leadership is not enough.
Because leadership changes.
But systems… endure.
So, our focus has been deliberate.
For this tourism sector, we are not just initiating projects, we are building structures that can sustain them.
Structures that:
- Define how decisions are made
- Align institutions around shared goals
- And ensure that progress does not depend on individuals
This is the institutionalisation.
Let me be clear about what this means in practice.
It means we are creating and running coordinated systems.
You are already seeing this through:
- The establishment of the 25-Year Tourism Master Plan Committee
- And the structured development frameworks, such as what you have seen for Eleyele Lake
These are not temporary measures.
They are building blocks of a system.
So, we are not speaking about continuity in theory.
We are demonstrating it in practice.
Last year, this summit opened the way for clarity under the Focus Five investment sites, and this year, I am happy to announce that a 15-year concession agreement has been signed with SystemSpecs Limited for Bower’s Tower.
So, what does all of this mean for you as investors?
It means that when you engage with Oyo State:
You are engaging with a system.
A system where:
- Decisions are guided by frameworks
- Engagement is coordinated across government
- And projects are anchored in long-term plans
It means that your investments are not dependent on personalities but supported by structures.
And that is what reduces risk.
As we approach the later phase of this administration, our focus is clear.
It is not just to complete projects.
It is to ensure that what has been started can continue.
That future administrations will not need to begin again.
They will be able to build on what exists.
Because the foundation has been properly laid.
This is what we mean when we say:
From groundwork to governance.
We have moved beyond identifying opportunities.
We are now building systems that will sustain them.
And in doing so, we are creating an environment where investment is not only possible but protected, structured, and enduring.
Thank you and God bless you.