By Adeola Badru

Oyo State Governor, ‘Seyi Makinde, has announced ambitious plans to leverage the opportunities presented by the African Continental Free Trade Area (AfCFTA) to boost the state’s economy.

Speaking yesterday at the opening of the Consultative Forum on the Development of the AfCFTA Sub-national Implementation Strategy for Oyo State, held at the International Conference Centre, University of Ibadan, the governor emphasised the importance of harnessing AfCFTA for economic development.

Governor Makinde underscored the state’s potential to play a pivotal role in AfCFTA, aiming to unlock economic opportunities that will create jobs and uplift citizens from poverty to prosperity.

He highlighted the state’s strategic geographical location as a vital asset for fostering beneficial relationships with other African nations.

Identifying key sectors for growth, the governor pointed out several areas where AfCFTA could significantly impact Oyo State.

“Since 2019, agribusiness has been a cornerstone of Oyo State’s economy. With abundant cash crops such as cocoa, cassava, maize, yams, and cashew nuts, the state is well-positioned to export agricultural products across Africa,” Makinde said.

The governor acknowledged the need for improved farming techniques and technology adoption for value addition.

He stressed the importance of establishing agro-processing industries that can transform raw agricultural produce into high-value exports, while noting ongoing projects like the agro-industrial hub in Fasola, nearing completion, and a new hub in Eruwa, which aims to foster public-private partnerships.

The governor pointed out that AfCFTA’s liberalization of services could enhance Oyo State’s education, healthcare, and ICT sectors.

“By capitalising on its international borders, Oyo can attract students, medical tourists, and tech businesses from neighboring countries.”

“The AfCFTA presents vast opportunities for small and medium-sized enterprises (SMEs) in Oyo State to access broader African markets.”

“Many local SMEs are already trading internationally, and the governor believes this will create additional job opportunities and stimulate economic growth.”

Makinde also recognised tourism and infrastructure development as critical areas for benefiting from AfCFTA.

In her opening remarks, Chairperson of the Technical Working Committee for the forum, Ms. Neo Theodore Tlhaselo, highlighted the necessity of developing a tailored AfCFTA strategy for the state.

She noted the state’s unique advantages in agribusiness, manufacturing, and investment, urging stakeholders to rally behind Governor Makinde’s vision for a stronger Oyo State.

Goodwill messages were delivered by various dignitaries, including the Osun State Commissioner for Commerce and Industry, Rev’d Bunmi Jenyo, who praised the developmental strides of Governor Makinde.

Other speakers emphasised the importance of collaboration to maximise opportunities in manufacturing, agriculture, and tourism.

In his address of welcome, Oyo State Commissioner for Trade, Industry, Investment, and Cooperatives, Mr. Adeniyi Adebisi, reiterated that the AfCFTA aimed to eliminate trade barriers and enhance intra-African trade, presenting the state with an opportunity for socio-economic growth.