Makinde Says Oluyole Free Trade Zone Will Spur Innovation, Jobs And Long-Term Growth

Oyo State Governor, Engineer Seyi Makinde, has said the Oluyole Free Trade Zone is poised to become a major centre for innovation, industrial expansion, and employment generation, positioning the state for long-term economic growth.

The governor made this known during the signing of a Joint Venture Agreement between the state government and a leading beverages company.

Represented by his Chief of Staff, Chief Segun Ogunwuyi, Makinde explained that his administration has remained committed to strengthening the ease of doing business and creating a climate in which both local and foreign investors can thrive.

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He said the government has invested heavily in improving infrastructure, expanding road networks and implementing reforms designed to make Oyo State a competitive destination for private-sector participation.

According to him, the establishment of the Free Trade Zone will significantly boost industrial capacity, promote trade, and create thousands of direct and indirect jobs, thereby reducing unemployment and increasing the state’s economic resilience.

He noted that the project aligns with his broader economic blueprint, which focuses on sustainable growth anchored on private-sector partnerships.

Chairman of the beverage company, Mr. Tun Tun Win, expressed appreciation to the state government for fostering a business-friendly environment and assured that the company would begin operations immediately, bringing in investments that will further energise the zone’s development.

Also speaking, the Director-General of the Oyo State Investment and Public-Private Partnership Agency, Mr. Tilewa Folami, highlighted the strategic location of the Free Trade Zone along the Senator Rashidi Ladoja Circular Road corridor.

He said the project would accelerate economic transformation, attract manufacturing industries, and strengthen Oyo’s position as an industrial hub within the Southwest region.

Folami added that the collaboration demonstrates the state’s commitment to leveraging public-private partnerships as catalysts for sustainable development and industrialisation.