The Governor of Oyo State, senator Abiola Ajimobi, has identified Oyo State as the choice destination for foreign investors in agriculture who may desire to come to Nigeria.
Ajimobi made the remarks while speaking at the New World Nigeria Investment and Business Summit at the Dorchester Hotel, London on Monday.
He said as the largest producer of cassava and poultry in Nigeria and its arable 27,000 square kilometre land mass and a market population of over six million people, Oyo State holds great prospects for any investor in agriculture.
Ajimobi, who described the participation of Oyo State in the forum put together by the Nigerian Bank of Industry as a way to further drive the quest for foreign investors in Oyo State, said he was overwhelmed with the response of prospective investors.
He said the focus of the state in seeking foreign investors is in the areas of agriculture, solid minerals, mining and infrastructural development, particularly in the construction of the 110 km Ibadan Circular Road and the proposed Ibadan Cargo Airport.
The governor said the state was also placing emphasis on power, conversion of waste to wealth and the provision of gas for domestic and industrial use in the state.
Ajimobi said the focus on agriculture was to leverage on the comparative advantage of the state as the largest producer of cassava and poultry and a leading producer of cocoa, yam, rice and fruits in the country.
Ajimobi said the state government had outlined many incentives to attract investors, including a liberalised regime of land allocation, tax holidays and state collaboration in the form of financial guarantees and partnerships.
The governor said in the last one year, his administration had been able to set the foundation for industrialization by ensuring peace and tranquility, a far cry from the sordid tale of the past when Oyo State was renowned for violence and brigandage.
He said his government had been encouraged by the identification of Ibadan as one of the top 10 destinations of foreign investments in Africa by the Financial Times of London, saying he was committed to translating this potential into reality through proactive measures.
Ajimobi said he had come to the conclusion that the rapid development of Oyo State, which he envisages, requires massive inflow of investment funds to create employment for the people.
Present at the occasion were, among others, Mr. Femi Agbaje, CFO Notore; Mr. Peter Longworth, DG Commonwealth Business Council; Dr. Akinwunmi Adesina, Minister of Agriculture; Dr. Edward George, Head, Soft commodities Research, Ecobank Group; Dr. Eleni Gabre-Madhin, CEO Ethiopia Commodity Exchange; and Mr. Deji Akinyanju, MD, Food Concepts.
Ajimobi is scheduled to make a presentation to the forum on Investment Oppurtunities in Oyo State on Wednesday.