Governor ‘Seyi Makinde of Oyo State has assured that his administration will continue to protect investors’ interests through strong legislative backing, ensuring that their investments remain secure regardless of political transitions.
The governor gave the assurance while receiving the Secretary-General of the African Continental Free Trade Area (AfCFTA), Mr. Wamkele Mene, who was on an official visit to Ibadan over the weekend.
Governor Makinde emphasized that political instability is often a deterrent for investors, but his government is working to provide long-term confidence.
“Political risk is something most investors try to avoid. But while I am here, we have the opportunity to lock in protections for the next 25 to 30 years through legislation. Our legislative arm is fully aligned with the executive on our development goals,” Makinde said.
He highlighted the state’s strategic location, ongoing infrastructure development, and abundant natural resources as key advantages for investment.
“Oyo State is geographically central to Nigeria and West Africa, sharing a border with the Republic of Benin. We are upgrading the Ibadan Airport to international standard to facilitate connectivity. We aim to make it a hub like Kigali’s airport to reduce travel time and costs,” he said, noting that the airside of the airport will be completed by September, with the terminal ready by mid-2026.
Makinde also spotlighted the state’s agricultural and mineral potential. “We have arable land and a competitive edge in agribusiness. Additionally, we are on a major lithium belt, which we aim to develop rapidly,” he stated.
The governor revealed that the Rasidi Ladoja Circular Road corridor is being transformed into a new, world-class city. “We have established a new authority to develop new towns to global standards. The Circular Road spans 110 kilometers around Ibadan, and we have reserved 4,000 hectares for a new city designed from scratch. The first segment of the road will be ready before year-end and open for concessioning.”
In his remarks, AfCFTA Secretary-General Wamkele Mene commended the governor for driving Oyo State’s economy to grow over 4%, outperforming the continental average of 3–3.5%.
“This performance is a testament to your leadership. It helps that you came from the private sector—you know how to get things done,” Mene said.
He added that the visit aimed to deepen collaboration with Oyo State and identify viable investment opportunities for international investors, particularly from Asia.
“We meet regularly with Korean trade leaders who ask where they should invest in Africa. Visits like this help us make a strong case for Oyo State. We are also working on a continent-wide investment portfolio for green infrastructure and agro-processing. If Oyo is positioned to support green technology and renewable energy, such projects will be prioritized for funding,” he said.
Also speaking, Special Adviser to the Governor on International Trade and AfCFTA, Ms. Neo Tlhaselo, expressed confidence in the state’s readiness to harness opportunities under the AfCFTA framework.
“The success of AfCFTA will not come from declarations but from deliverables. Oyo State is known for being a pacesetter. We are investing, reforming, and innovating to create an environment that attracts strategic partners,” she said.
The AfCFTA delegation was later taken on a tour of key infrastructure projects in the state.
Present at the event were Deputy Governor Barr. Bayo Lawal; Chief of Staff Otunba Segun Ogunwuyi; Head of Service Mrs. Olubunmi Oni; several commissioners; and the Director-General of the Oyo State Investment and Public Private Partnership Agency (OYSIPA), Mr. Tilewa Folami.
