Oyo Renews Commitment To Attract More Investors

Oyo State Government has renewed its commitment towards sustaining its synergy with the private sector in the provision of enabling environment to further attract local and foreign investors.

Princess Taibat Adeyemi-Agaba, the state Commissioner for Trade, Investment, Industry and Cooperatives, said this at the Manufacturers Association of Nigeria (MAN) End-of-the-Year Get Together on Thursday night in Ibadan.

The commissioner also commended the collaborative effort of the private sector in the state at boosting the economy.

“Oyo State has become a haven for both local and foreign investors as a result of the massive infrastructure development.

“Gov. Abiola Ajimobi’s administration in the state has evolved various initiatives and policies in the areas of security, investment promotion and environmental development.

“All these culminated into influx of investors as well as the sustainable peace and security enjoyed in the state today,’’ she said.

In another development, Chief Kola Akosile, the Zonal Chairman of MAN, has said that the Nigerian economy is steadily improving as the nation officially exits the recession in the outgoing year.

Akosile made the statement in an interview with the News Agency of Nigeria (NAN) in Ibadan.

“The Nigerian economy has not been too friendly with our operations in the last few years as manufacturers but we thank God things are improving gradually.

“Officially the country is out of recession and we are gradually feeling the impact. We pray that next year would be much better than the outgoing year,’’ he said.

Akosile said multiple-taxation was the major challenge facing his members, noting the pressure several agencies on the issue.

“Several agencies come to disturb our members but we are trying to harmonise. We believe that Public Private Partnership (PPP) is good for economic development.

“It would increase our capacity and government’s revenue. We believe that working closely would avail government the opportunity to achieve their aims.’’

He also said that the association was evolving a strategy to reduce the members’ over-dependence on the epileptic public power supply, including the establishment of MAN Electricity Company that would enhance their operations.

The chairman said that the association was also planning to free enough power for household use from confined power, for various industrial clusters in the zone made up of Oyo, Osun, Ondo and Ekiti.

“Our members are beginning to have clusters to generate power for themselves without relying too much on government. If we rely too much on government, it won’t get us anywhere,’’ he said.