The Oyo State Governor, Sen. Abiola Ajimobi, has said that the state is prepared to use its vast landmass and population, as well as its contiguous location with the Northern and Southern part of the country to rejig its economy.
He spoke at the breakout session attended by Governors from the Southern part of the country during the 21st Nigerian Economic Summit organized by the Nigerian Economic Summit Group, in Abuja, on Wednesday.
Other governors at the session were Mr. Willie Obiano (Anambra State); Mr. Adams Oshiomhole (Edo); Mr. Rochas Okorocha (Imo State); Mr. Rauf Aregbesola (Osun State); Mr. Ibikunle Amosun (Ogun State); and Deputy Governor of Ebonyi State, Kelechi Igwe.
The organisers said that the summit was aimed at facilitating stakeholders’ discussion and stimulate agreements on how best to achieve competitiveness and inclusive growth in a sustainable way, as well as to push for permanent structural changes that would stimulate inclusive growth.
To this end, Ajimobi said that Oyo State planned to shore up its dwindling revenue base by leveraging on its agriculture potential to achieve the objectives of the summit, which he said was well timed.
He said that the state was determined to explore and exploit the agricultural value chain to turn around the state’s fortunes as a way of liberating the state from economic stagnation instigated by the dwindling revenue allocation from the Federation Account.
Ajimobi used the opportunity to inform the audience that the state offers substantial discount to investors wishing to invest in agriculture, while such lands are acquired with relative ease.
He said, “The major advantage Oyo State has over other states today is its size. We are leveraging on our size and vast landmass to grow our economy. There are many industrial giants in Oyo State today who were attracted to the state by our business incentives.
“I’m using this opportunity to invite more investors to partner with the state government. Oyo State is five times the size of some states in the country. With such size and landmass, as well as the goodwill of the government, there is no business that will not thrive in Oyo State.
“We are also creating a logistic centre, which will have an industrial park, storage and other facilities. We are doing everything possible to ease logistics in and around the state.”
Ajimobi said that the state had also enacted a Public Private Partnership law to create a condusive environment for investors willing to partner the state.
As part of its regional integration agenda, the governor said that Oyo was partnering Lagos State on reforms that would significantly enhance its’ internally revenue generation.

Ok