Home Business & Economy Why investors should come to Osun State, by Oyetola

Why investors should come to Osun State, by Oyetola

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Government of Osun State has given reasons why investors should come into the state, saying that the state is sitting on a lot of mineral resources big enough to drive the nation’s economic growth and that the state is open for business.

its Governor, Adegboyega Oyetola, while speaking in Lagos last week during the State Facts Behind the Economy at the Nigerian Stock Exchange (NSE) maintained that his administration is in a hurry to develop the state and deliver value to the people.

He said his administration’s plan pillar is targetted at infrastructure development, human capital development/ security and environmental sustainability.

Speaking further, he noted that the state has vast expanse of land for agriculture, ‘this is very significant, abundant material and mineral resources, availabity of skilled labour. I don’t know any other state in Nigeria that can boast of what Osun has in terms of higher institutions.

‘We are in a hurry to deliver value to our people, we are in a hurry to develop our state, we are in a hurry to make sure that the lives of our people improve for the better and to make sure that we have an environment where all of us will be proud to be citizens.

‘This administration has placed priority on diversifying income sources by putting right structures in place to sustain development. We want to open up another opportunity which has existed before but declined due to fall in oil price and other factors. We are ready to revitalise it in order to alleviate Lagos congestion and traffic to propel nation’s economic growth,” he said.

In his opening speech, Chief executive Officer of NSE, Mr. Oscar Onyema applauded the governor’s leadership and efforts at revitalising the education, mining, agriculture, textile and tourism sectors in the state.

Onyema said that the NSE platform was geared at attracting investors toward all the sectors of the economy, whilst catering for small, medium and large businesses represented on the various boards of the Exchange.

“Your passion for excellence, dedication to promoting the people of the state and revitalising moribund projects across the state has been recognised globally.

“We specifically commend the state government on the execution of a partnership agreement with the Federal Government to develop gold mining potential to improve Internally Generated Revenues (IGR) and ramp up jobs creation opportunities.

“Indeed, the IGR drive has yielded significant results for the N1.47 trillion state economy,” Onyema said.

He said that Osun generated over N10.2 billion in revenue in the first half of 2019 alone, according to data from the National Bureau of Statistics (NBS).

Osun was created on the 27th of August1991, and it is surrounded by five states, Ogun, Kwara, Ekiti, Ondo and Oyo. Is is also a gateway to the North and even when you are going to the East.

The state of Osun has a vision and mission that has been developed as part of the public financial management reform that have been on in the last two years, basically to reposition the state in such a way that there will be a platform that will be the basis upon which every development is anchored.

The land mass of osun is about 9, 000 square kilometers, the state Gross Domestic Product (GDP) as computed by the National Bureau of Statistics (NBS) is N1.47 trillion that speaks to the size of the economy as at 2018, and a lot of activities has taken place between that particular time and now and believe that this is an opportunity for investors to take advantage of the size of the economy.

The state government disclosed that in the last eight years it has committed a lot of resources in infrastructure, opening up all the interstate roads that will make the state accessible at anytime, while massive infrastr ucture development is ongoing currently.

To ensure that investors do not come and start looking for lands, the government of the state decided to set up a land bank, the architecture around the land bank is such that lands are secured; and individuals and families, who own lands can deposit their lands in the land banks, and as such, the lands still belong to them but investors can make use of the lands for productive purposes. The investors will benefit, the depositors will benefit and the state will also benefit.

Currently, the state has about 10,000hectres that is available today in the bank. Within the next one year, the target is to get additional 25,000 for investors use.

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