The Oyo State Government is currently discussing plans with a Spanish Investment Consortium to construct an Industrial Estate on a 1,400-acre piece of land in the state.
This estate will be equipped with all necessary facilities and will aim to explore and expand the numerous business opportunities available in Oyo State.
Honorable Ademola Ojo, the Commissioner for Trade, Industry, Investment, and Cooperatives, announced this development during a meeting with a Spanish team led by Mr. Ricardo Serrdno.
Ojo highlighted the efforts of Governor Seyi Makinde’s government in creating a favorable business environment and improving the ease of doing business in the state.
He emphasized that Oyo State is ready to partner with investors to further develop its business potential, given its abundant human and mineral resources.
Ojo revealed that the idea for the project originated during a summit in Spain, which was attended by important figures such as the State Chief of Staff and Mr.
Ricardo Serrdno. After visiting a similar world-class Industrial Estate, it was agreed that a Business Hub of the same caliber should be replicated in Africa, specifically in Oyo State, by the Spanish Consortium.
Furthermore, Ojo informed that the Oyo State Investment and Public Private Partnership Agency (OYSIPA) will address critical issues such as the sharing formula and benefits for the State Government.
He also mentioned that his concerns regarding proof of fund, successful implementation, and support for micro, small, and medium enterprises (MSMEs) in the state were assuaged during discussions with the Spanish team.
Mr. Ricardo Serrdno emphasized the need to develop a preliminary master plan for the project. This plan will include the division of land plots for different industries, as well as access roads and parking areas.
Additionally, the development plan will consider the construction of a perimeter survey and the establishment of a sustainable solar power system, either through roof solar panels or by locating panels in another acquired plot of land, in order to ensure efficiency, reliability, and cost-effectiveness.
E-signed:
Prince Dotun Oyelade
Honorable Commissioner
Ministry of Information and Civic Orientation
Oyo State
November 8, 2023.