Governor Seyi Makinde’s Keynote Address at the Nigeria Belgium Luxembourg Business Forum
Governor Seyi Makinde delivering a keynote address at the Nigeria Belgium Luxembourg Business Forum on 22 October 2025
Being the Keynote Address by His Excellency Seyi Makinde, FNSE, Executive Governor, Oyo State, Nigeria at the Nigeria Belgium Luxembourg Business Forum with the Theme Oyo State: Nigeria’s Investable Frontier for Strategic Global Partnerships on Wednesday, 22 October 2025
It is an honour to be here with you today at the Nigeria Belgium Luxembourg Business Forum — one focused on the kind of partnerships that move the world forward. The kind that does not only drive economic growth, but secures long-term sustainability.
In a world reshaping itself around new values — resilience, traceability, localisation, innovation — Africa is not just rising, Africa is ready. And within Africa, Nigeria remains a beacon of opportunity.
But today, I have not come to speak for all of Nigeria. I have come to introduce you to a specific State that is redefining what it means to invest in Nigeria. That State… is Oyo State.
Oyo State is not just a place — it is a proposition.
In the last six years, Oyo State has been groomed to be chosen. We have taken steps that position our dear State as Nigeria’s most investable sub-national economy. We have done the work that makes Oyo State not just a possible choice but the practical choice.
We are a central hub in the South-West, with over 8 million people, strong cultural assets, and unrivalled access to regional markets.
But location is not our only advantage.
Just a few days ago, we were at the African Continental Free Trade Area (AfCFTA) Secretariat in Accra to submit our post-launch engagement report — part of the administrative processes required for Oyo State to be officially listed as a party to the agreement. We are the first sub-national in Africa to accomplish this feat.
Similarly, we are the first sub-national in Africa to be listed as a member of the World Union of Wholesale Markets. In fact, we have started the process of building the first Rungis-style wholesale agrifood market in Nigeria, located at Ijaiye, Ibadan.
We are the beautiful bride — stable, intelligent, prepared, and full of promise. And in keeping with the times, we are not waiting for someone to come with a dowry. We are looking for partners. Partners who will build with us. Grow with us. Prosper with us.
Let us speak plainly. We know what investors are looking for…
A government that honours agreements
A policy environment that de-risks investment
A clear pathway to profitability
And a support system that nurtures, protects, and ensures growth
We understand this.
That is why, in Oyo State, we have delivered the following:
✅ Stable, visionary leadership — now in our second term with a clear roadmap (Omituntun 2.0).
✅ Digitised land access — with GIS-enabled platforms for land selection, verification, and acquisition.
✅ Automated building permits — with a single-window office to fast-track approvals.
✅ Tax harmonisation — eliminating double taxation and providing clarity on what is due within the State.
✅ Ease of Doing Business Reform Bill — in motion to protect property rights and investor confidence.
✅ One-Stop Investment Centre — OYSIPA, your single point of entry for doing business in Oyo State.
We are building the internal and external institutions that inspire investor confidence. As the investors already in our State will tell you — when we enter into partnerships with them, they are ironclad. You have no cause to fear that another administration will come and reverse our policies. They are backed by law.
But beyond processes, we are building the infrastructure that makes investment scalable:
Interconnectivity – We have linked all zones of the State, and now we have begun development on the 110 km Rashidi Ladoja Circular Road. This road, with a corridor of about 500m, provides access through Oyo State without passing through the city as it encircles Ibadan. It will be the first freeway in Nigeria. (And yes — we are the Pacesetter State, so do not be surprised at all the firsts).
Agribusiness Industrial Hubs – We began at Fasola with what is now the first Agribusiness Transformation Centre in Nigeria, as designated by the African Development Bank. That centre is fully operational. We are developing two more — one at Eruwa and another at Ijaiye. Both are backed by the African Development Bank and will house Special Agro-Industrial Processing Zones (SAPZs).
Rail Connectivity – I mentioned earlier that Oyo State is centrally located in the South-West. We not only provide access from the South-West to Northern Nigeria, but we are less than 2 hours by rail from Lagos, and 1 hour by road.
Airport Upgrade – The Samuel Ladoke Akintola Airport in Ibadan is being upgraded to an international airport. We have received our first wide-bodied aircraft at the airport, and we look forward to collaborations with international carriers to land in Ibadan. We have what it takes, having built a 500,000-litre aviation fuel dispensing facility at the airport about two years ago. We are indeed ready for aviation business.
Now, let me be specific about where we want to build with you:
Agribusiness and Agro-Processing
We are home to fertile lands and a youthful workforce.
But we seek processing partners to reduce post-harvest loss, improve storage and logistics systems, and boost exports that carry the Made-in-Oyo label across the world.
Our Fasola Hub is already hosting brands like Brownhill Farms Limited — a subsidiary of Brownhill Group, producers and exporters of homegrown food solutions — and Troli International Ltd, makers of Pepperetti sauce.
We are scaling this model across two more hubs during our tenure. I already mentioned Eruwa and Ijaiye. We have broken ground at both locations and preparations for construction to commence is in progress.
New investor expressions of interest can move from intent to groundbreaking within six months.
Tourism Infrastructure
With natural wonders like the Iyake Lake in Ado Awaye – one of two suspended lakes in the world; Eleyele Lake in Ibadan, and Idere Hills in Ibarapa, we are ready to co-develop tourism clusters and experience centres.
We have identified 5 investment-ready sites — fully backed by government — and you have an opportunity to be part of this journey.
We just concluded the first phase of the Expression of Interest. Another phase will open soon. You can request our Tourism Deal Book, and we also provide guided site tours, so you can see what you are investing in before you commit.
Energy and Infrastructure
We welcome:
Off-grid solar,
Mini-hydro, and
Smart grid pilots.
As you may already know, the deregulation of the sector now makes it possible for States and even Local Governments to generate and transmit power.
We also have openings for PPP-based road construction — including the Circular Road I mentioned earlier, which will be tolled.
Our solid minerals sector is also open for investment.
We do not just welcome investment — we de-risk it.
As a sub-national government, we offer:
• Land allocation through government-backed Certificates of Occupancy.
• Regulatory fast-tracking and permit waivers where applicable.
• Co-investment in key infrastructure.
• Technical support and aftercare through the Oyo State Investment and Public-Private Partnership Agency (OYSIPA) and the Oyo State Agribusiness Development Agency (OYSADA).
• Flexible partnership models — from Build-Operate-Transfer to equity-based co-ownership.
So today, we are not here to impress you with stories.
We are here to invite you into a future —
A future where your business wins, and our people thrive.
We believe in partnerships that are viable, strategic, and sustainable.
Oyo State is not in competition with other States.
We are in alignment — with progress, with potential, and with partners who share our vision.
So, if you are still wondering where to land in Nigeria —
Think Oyo State.
If you are looking for proof of execution —
Come to Fasola.
And if you are looking for a handshake that holds weight —
Ours is firm. And it is waiting for yours.
Come — let us build something enduring.
Thank you, and God bless you.
22 October 2025
Credit: https://seyimakinde.com/nigeria-belgium-luxembourg-business-forum/
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