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Oyo will explore AfCFTA benefits to grow economy, says Makinde
Oyo will explore AfCFTA benefits to grow economy, says Makinde
Oyo State governor, ‘Seyi Makinde, has said that his administration will fully explore the benefits in the African Continental Free Trade Area (AfCFTA) to expand the state’s economy.
The governor stated this on Wednesday at the opening ceremony of the Consultative Forum on the Development of the African Continental Free Trade Area (AfCFTA) Sub-national Implementation Strategy for Oyo State held at the International Conference Center, University of Ibadan.
Makinde said the state would act as a significant player in AfCFTA with a view to unlocking more of its economic potentials to provide job opportunities and uplift the people of the state from poverty to prosperity.
The governor added that Oyo State Government would leverage its geographical location to maximize the benefits from AfCFTA by fostering cordial relationships with other African countries.
The governor identified seven areas that the AfCFTA would be beneficial to Oyo State.
Expatiating on the areas, Makinde said: “Since 2019, agribusiness has been one of the key drivers of the Oyo State economy. With cash crops like cocoa, cassava, maize, yams, and cashew nuts, we have agricultural produce that we can export to other African countries. We still have work to do in improving farming methods and adopting technology for value addition.
“This leads us to point number two: facilitating the establishment of agro-processing industries to convert these raw produce into high-value exports.
“I must say that this is the route that we have chosen here in Oyo State. We have made it one of our key policies to create an enabling environment for the private sector to thrive. Presently, we are working on constructing agro-industrial hubs. One at Fasola, in Oyo West Local Government Area, which is about 90% complete and the other, which we just started at Eruwa in Ibarapa East Local Government Area.
“We are open to further private public and development agency partnerships.
“A third way that AfCFTA can benefit Oyo State is in trade and logistics.”
The governor added, “AfCFTA’s liberalisation of services trade can benefit Oyo State’s education, healthcare, and ICT sectors. Also, taking advantage of our international border, we can attract students, medical tourists, and tech-based businesses from neighbouring countries. To do this, we have to position Oyo State as a hub for quality education and healthcare services. So, this is one area we should be paying attention to. As I always say, the best thing we can leave behind after our tenure is institutions for the future. Of course, policies drive institutions.”
According to the governor, “AfCFTA provides opportunities for Small and Medium-sized Enterprises (SMEs) to access larger African markets. And here in Oyo State, we have thousands of SMEs. Some are already trading internationally, but with AfCFTA a lot more can be done. The upside is that this will create more job opportunities for our dear state and contribute to growing our economy.”
Other benefits identified by the governor are in the area of tourism and infrastructure.
In her opening remarks/presentation on the rationale, role and process for developing Oyo State AfCFTA sub-national strategy and objectives of the consultative forum, Chairperson of the technical working committee who also doubles as the Special Adviser, International Trade and African Continental Free Trade Area (AfCFTA), Ms Neo Theodore Tlhaselo, said the Consultative Forum on the Development of the African Continental Free Trade Area (AfCFTA) Sub-national Implementation Strategy for Oyo State is mandatory as set by the AfCFTA Secretariat in the crafting of a domesticated AfCFTA strategy to delve into a crucial conversation about future of trade, economic empowerment and also explore ways to create real tangible avenues for success of businesses, communities and individuals across the state.
She added that Oyo State Government has a unique comparative advantage that sets it apart from other states through agribusiness, manufacturing, investment, market expansion which would add more value to the economy of the state.
Ms Tlhaselo charged stakeholders to support Governor Makinde’s development agenda for progress and building a stronger Oyo State that can play a leading role in AfCFTA.
In his goodwill message, the Osun State Commissioner for Commerce and Industry, Rev’d Bunmi Jenyo, while promising Osun State Government’s support to the vision, lauded the developmental strides of Governor Makinde in transforming Oyo State and urged the South West states to prioritize and maximize opportunities to invest in manufacturing, harness opportunities in agriculture and tourism, increase employment opportunities and cultural exchange among other countries.
Also in their separate goodwill messages, the Executive Director/Chief Executive Officer, Nigerian Export Promotion Council, Mrs Nonye Ayeni, represented by the Southwest Regional Coordinator, Mr Ganiyu Gbolagade, and Dr Daniel Gbadero, representing the Organized Private Sector (OPS), noted that the project would boost trade, foster economic growth and accelerate development. They encouraged stakeholders to be committed and see it as a collective task.
Earlier in his welcome address, the State Commissioner for Trade, Industry Investment and Cooperative, Mr Adeniyi Adebisi, noted that the essence of African Continental Free Trade Area (AfCFTA) is to eliminate trade barriers and accelerate the intra African trade position in the global market by strengthening Africa’s common voice and policy space in global trade negotiations, adding that the project is an opportunity for Oyo State to promote socio-economic growth development, reduce poverty and broaden its economic inclusion.
He explained that Oyo State Government, under the leadership of Governor ‘Seyi Makinde, has embraced all the objectives and protocols involved in the AfCFTA programme.
He also assured that the committee working on the programme would leave no stone unturned in ensuring a conducive environment for trading activities in Oyo State which is the hallmark of economic development.
The event had in attendance the Deputy Governor of Oyo State, Barr. Abdulraheem Bayo Lawal; former deputy governors of Oyo State, Engr Hamid Gbadamosi and Barr. Hazeem Gbolarumi; former Oyo State’s First Lady, Chief Mrs Mutiat Ladoja; the Chief Judge of Oyo State, Justice Iyabo Yerima; and a former Minister of Trade and Investment, Chief Mrs Onikepo Akande.
Also in attendance were former Speaker of the House of Assembly, Senator Monsurat Sumonu; Secretary to the State Government, Prof. Olanike Adeyemo, Chief of Staff to the Governor, Otunba Segun Ogunwuyi; Head of Service, Mrs Olubunmi Oni, mni; Deputy Chief of Staff, Hon Fola Oyekunle; Chairman of Local Government Chairmen in Oyo State, Hon. Sikiru Sanda; Chairman and Co-chairman Elder’s Council, Dr Saka Balogun and Elder Wole Oyelese; Babaloja General of Oyo State, Chief Yekini Abass service commanders, labour union leaders, religious leaders and traditional rulers, among other dignitaries.
