Business
Oyo Attracted $65m Investment In Four Years – Ajimobi
Governor Abiola Ajimobi of Oyo State has said that his administration attracted investment worth $65 million to the state within four years.
He made the disclosure while unveiling the Transformation Industrial Park Project on the Ibadan-Lagos Expressway.
The Tide source reports that the governor unveiled the industrial park and flagged off the Phase 1 of the Polaris Pacesetter Free Trade Zone as part of activities marking his administration’s sixth year anniversary.
The Tide gathered that the industrial park has 162 plots of land, with the Free Trade Zone located on 4,000 hectares of land.
“From the National Bureau of Statistics figures on Foreign Direct Investment inflow into Nigeria over the period between 2011 and 2015, Oyo State attracted a total of $64.8 million investment.
“This places the state second only to Lagos State in the South West,’’ the governor said.
Ajimobi said his administration also attracted 34 new companies, while two others, Leyland Busan Motors Limited and Dizengoff, were resuscitated by their owners.
According to him, the companies have yielded a turnover of N32 billion and have created over 3,000 jobs.
The governor also said the industrial park had been divided into 162 plots of various sizes to accommodate medium and small scale industries.
“We assure investors that the paper processing for their plots would not exceed 30 days.
“ Let me state here that the first 20 allottees would enjoy 70 percent discount,’’ he said.
He assured the former land owners of the benefit from the investment through profit sharing.
Ajimobi said that the state was uniquely blessed with land mass and resourceful people, noting that 75 percent of the state’s land mass was arable.
“Our state is blessed with arable land and mineral resources. With all the blessings, the state was trapped in violence, decadence and culture of impunity.
“It was also tagged the dirtiest in the country until we came on board.
“Let me tell you that in the last six years, we have been able to make the state clean, safe and healthy for residents and investors,’’ he said.
Mrs Folake Akinleye, the Special Adviser to the Governor on Investment, Promotion and Public Partnership, said the park was established to elevate the state from its civil service status to an industrialised one.
This, he said, was in line with the restoration, transformation and repositioning agenda of the Ajimobi administration.
“With the unveiling of this park today, the state is set for better opportunities for investment, investors and industrialists from all over the world,’’ he said.
Chief Kola Akosile, the Chairman of Manufacturers Association of Nigeria (MAN), Oyo/Osun/Ondo/Ekiti branch, commended the governor for his doggedness and commitment to the tenets of Public-Private Partnership.
Akosile, who was represented by his deputy, Vikroam Gursahanei, said industrialisation was critical in driving development.
“Industrialisation provides the brightest hope for sustained growth, employment generation, improved savings and poverty alleviation,’’ he said.
Mr Olaitan Alabi, the Chairman of Oyo State Chambers of Commerce, Industries, Mines and Agriculture, said that the efforts of the state government deserved commendation.
In a concerted effort to tackle racketeering and reduce inflated transportation costs in the Nigeria’s seaports, Trucks Transit Parks Ltd. (TTP) has trained Licensed Customs Agents and Freight Forwarders on the use of its Ètò electronic call-up system.
The training was held recently at Customs Processing Centre (CPC) Auditorium, Apapa, Lagos, in collaboration with the Nigeria Customs Service (NCS) and supported by the leadership of the Joint Association of Licensed Customs Agents and Freight Forwarders (JALCAFF), Apapa Command.
Speaking at the event, Comptroller Babatunde Olomu expressed appreciation to TTP for facilitating the training and emphasized the need for customs agents to take personal ownership of the Ètò booking process.
“I want to thank TTP for this impactful training. I encourage all customs agents to begin doing their own bookings directly. By doing so, they can take back power from the unscrupulous elements exploiting their lack of knowledge, selling tickets at highly inflated prices,” Olomu declared.
He noted that empowering agents with hands-on training was key to dismantling racketeering networks that have plagued access to the ports and frustrated efficient logistics processes.
Also speaking, the Chairman, Apapa Chapter of the Association of Nigerian Licensed Customs Agents (ANLCA), Chief Emeka Chukwumalu, said the engagement was critical to the ongoing push to reduce cargo transportation costs and ease business operations at the Apapa Port.
According to a freight forwarder, “The training is basically for us to have awareness of the operations of the Ètò call-up system through TTP. We also want to brainstorm on ways to reduce the high cost of cargo transportation in Apapa Port.
“This training opened our eyes to how simple it is to book tickets ourselves. We now know the right steps to follow and how to avoid falling victim to fraudsters.”
Earlier, Head of Operations at TTP, Mr. Irabor Akonoman, talked on common misconceptions about ticket pricing, reaffirming that the cost of Ètò bookings had remained consistent since its inception.
“The official price remains the same since inception. What people are paying higher amounts for is the manipulation by racketeers”.
Towards strengthening small businesses and promoting a more supportive regulatory environment, the Nigeria Employers’ Consultative Association (NECA) says it will hold the 2025 edition of its flagship MSMEs Fair on Tuesday (May 6, 2025).
The event, themed, “Galvanising MSMEs for Economic Growth and Stability”, will take place at NECA House in Lagos.
According to NECA’s Director-General, Mr Adewale Smatt Oyerinde, the fair seeks to provide micro, small, and medium enterprises with essential tools, resources, and strategic networks to thrive in Nigeria’s challenging business climate.
He emphasised the vital role MSMEs play in national development, describing them as the “lifeblood of Nigeria’s economy.”
Oyerinde noted that the fair is designed to offer entrepreneurs practical solutions to navigate economic uncertainties, regulatory hurdles, and business scalability issues.
A major attraction of this year’s event is the keynote address by the CEO of FATE Foundation, Mrs. Adenike Adeyemi, a prominent advocate for MSME development.
She is expected to share transformative insights on innovative strategies for sustaining and growing small businesses in Nigeria.
A unique feature of the fair will be interactive sessions with key regulatory bodies. Entrepreneurs will engage directly with agencies responsible for licensing, compliance, taxation, and business registration.
NECA said these sessions aim to demystify bureaucratic processes and foster a more enabling business environment.
It also said the fair will provide a platform for entrepreneurs to exhibit their products and services, connect with potential investors, and explore new markets.
It added that participants would gain critical knowledge on digital transformation, access to finance, and strategies for sustainable business growth.
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· NECA stressed that the fair aligns with its broader mission of promoting enterprise development and economic resilience.
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· “By empowering MSMEs with the right support and information, the organisation aims to stimulate job creation, innovation, and long-term economic stability”, NECA said.
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· The 2025 MSMEs Fair is expected to attract a wide range of stakeholders, including financiers, tech experts, regulators, and industry leaders, all united in advancing the growth of Nigeria’s MSME sector.
The Lagos State Commissioner for Transport, Mr Oluwaseun Osiyemi, says over two million passengers have been transported on the Blue Line Rail since its launch, while state-run buses move an average of 42,000 commuters daily.
Osiyemi, who disclosed this during the Year 2025 Ministerial press briefing held at the Bagauda Kaltho Press Centre, Alausa, on Tuesday, noted that the Lagos State Transport Policy, launched in May 2024, was now in its implementation phase, focusing on inclusivity, safety, affordability, and sustainability.
“On rail development, Phase One of the Blue Line (Marina to Mile 2) has served over two million passengers, with Phase Two (Mile 2 to Okokomaiko) in progress.
“Phase One of the Red Line (Agbado to Oyingbo) is now operational with eight stations and additional rolling stocks procured, while Phase two (Oyingbo to link Blue Line at National Theatre) is underway”, he said.
The Commissioner said in the state-owned bus operations, over 60 million commuters have been served since 2019, with daily ridership exceeding 40,000.
He also said plans were on to deploy new buses with Quality Bus Corridors under construction, adding that the Abule=Egba Bus Terminal had also been commissioned.
“For water transport, 15 locally-built Omibus Ferries have been launched and are in operation, with the Ijegun Egba Terminal now open.
“The OMI EKO project, in partnership with the French Development Agency (AFD), will deliver 25 terminals and 78 electric ferries.
“Over 280,000 passengers have used ferry services in the past year, and 12 boats have been upgraded to meet safety standards”, he said.
On road infrastructure and traffic management, the Commissioner said 49 junction improvement projects had been completed, including ongoing ones at Ikorodu, Iju, as well as Allen-Opebi-Toyin axis.
He added that solar-powered Traffic Signal Lights, road markings covering 67.9km, new medians, laybys, and 3,941 parking lots had also been provided.
Additionally, Osiyemi announced that the deployed Automatic Number Plate Recognition cameras had detected over 470,000 traffic violations and that the Vehicle Inspection Service issued over one million roadworthiness certificates.
He also said that the Lagos State Drivers’ Institute trained more than 32,000 drivers in the past 13 months.
The event marked the second anniversary of Governor Babajide Sanwo-Olu’s second term, showcasing major strides in the transport sector under the THEMES+ agenda.
Nkpemenyie Mcdominic, Lagos