Oyo is Nigeria’s most investable sub-national economy, says Makinde

By Adejayan Gbenga –

Oyo State Governor, Seyi Makinde, has described the state as Nigeria’s most investable sub-national economy, highlighting its readiness for global partnerships during his keynote address at the Nigeria–Belgium Luxembourg Business Forum held on Wednesday.

Speaking on the theme “Oyo State: Nigeria’s Investable Frontier for Strategic Global Partnerships,” Makinde said the state had undergone significant transformation over the last six years to become a preferred destination for investors seeking stability, innovation, and long-term growth.

He revealed that Oyo recently became the first sub-national in Africa to submit its post-launch engagement report to the AfCFTA Secretariat in Accra — a step towards being officially listed as a party to the continental trade agreement. The state is also the first African sub-national to join the World Union of Wholesale Markets, where it is developing Nigeria’s first Rungis-style wholesale agrifood market in Ijaiye, Ibadan.

According to the governor, Oyo’s investment appeal lies in its policy consistency, digitized land administration, harmonized tax system, and the newly established One-Stop Investment Centre (OYSIPA), which ensures ease of doing business. He assured investors that all agreements entered into with the state are “ironclad” and protected by law.

Makinde also listed major infrastructure projects driving Oyo’s growth, including the 110 km Rashidi Ladoja Circular Road, the Fasola Agribusiness Transformation Centre backed by the African Development Bank, and the upgrading of the Ibadan Airport to international status. He noted that the state’s strong rail and road connectivity to Lagos further enhances its competitiveness.

Highlighting key investment sectors, Makinde invited global investors to partner in agribusiness, tourism, energy, and infrastructure development, emphasizing that Oyo offers incentives such as land allocation, regulatory fast-tracking, and flexible public-private partnership models.

He urged investors to explore the state’s tourism potential in sites such as Iyake Lake in Ado-Awaye, Eleyele Lake, and Idere Hills, where government-backed projects are being developed into world-class tourism clusters.

“We are not in competition with other states,” he said. “We are in alignment with progress, potential, and partners who share our vision. If you are looking for where to land in Nigeria, think Oyo State.”