Oyo State economy now stable, attractive to investors — Makinde

…Says state paying N24bn monthly salary payments to workers

Governor Seyi Makinde has reaffirmed his administration’s success in fostering economic stability in Oyo State, making it increasingly attractive to investors.

Speaking on Sunday at his residence in Ikolaba, Ibadan, after attending Eid-el-Fitr prayers at the Agodi Eid Ground, the governor addressed a delegation of Muslim faithful, including clerics, traditional rulers, and political office holders from federal, state, and local government levels.

The delegation, led by Deputy Governor Barrister Abdulraheem Bayo Lawal, included the Otun Olubadan of Ibadanland, Senator Rashidi Ladoja; Senator representing Oyo South, Oloye Sharafadeen Alli; former Deputy Governor and PDP Deputy National Chairman, Ambassador Taofeek Arapaja; and Professor Kamil Oloso, among others.

During his address, Governor Makinde revealed that the state disburses N24 billion in monthly salaries to state and local government workers. He noted that his administration’s dedication to economic expansion is yielding tangible results, with increased private sector investments demonstrating confidence in Oyo State’s business environment.

Congratulating the Muslim community on the successful completion of Ramadan and Eid-el-Fitr 2025, the governor acknowledged their prayers, patriotism, and support for his administration. He credited the state’s ongoing economic progress to the peace and harmony enjoyed among its residents.

“Oyo State is now known for peace, unity, and stability. I urge all residents to continue fostering this atmosphere because every positive development we wish for depends on maintaining peace and harmony,” he said.

Reflecting on the state’s political evolution, Makinde recalled the divisions that once marred religious and political gatherings in Oyo.

“When we look back to 2007, a lot has changed. Today, political leaders from different parties attended Eid prayers together and later visited me as governor. That sense of unity was absent in the past when people dictated who should and shouldn’t attend public events,” he remarked.

He stressed that the current atmosphere of unity has enabled Oyo State to experience significant development and social progress, ensuring that the mistakes of the past are not repeated.

Governor Makinde highlighted his administration’s achievements in improving the state’s financial standing.

“Every four weeks, N24 billion flows into Oyo State’s economy through workers’ salaries. The state’s wage bill stands at N14 billion, while local government salaries account for N10 billion,” he revealed.

He also noted the growing interest of private investors in the state, citing the Farmers’ Wholesale Market project at Ijaiye Farm Settlement as an example.

“Yesterday, we inspected the site of the Farmers’ Wholesale Market. That settlement spans 27,000 hectares, and we have allocated 3,000 hectares for this initiative. The fact that investors feel comfortable coming to Oyo State is a testament to the progress we are making,” he explained.

Addressing political office holders, Makinde urged them to remain steadfast in their commitment to improving the lives of citizens.

“These are challenging times for many, but as the saying goes, tough times don’t last—only tough people do,” he stated.

Delivering a message on behalf of the Olubadan of Ibadanland, Oba Owolabi Olakulehin, the Otun Olubadan of Ibadanland, Oba Rashidi Ladoja, encouraged Oyo residents to be patient and remain hopeful despite economic difficulties.

Speaking to journalists after the Eid prayers, Deputy Governor Barrister Lawal urged the Muslim community to uphold values of empathy, love, and kindness, as taught in the Holy Quran. He also commended Governor Makinde for prioritising workers’ welfare through prompt salary payments and for leading the state with integrity and accountability.

In a special prayer for the governor’s continued success, Professor Oloso expressed gratitude for Makinde’s support of the Muslim community.

The delegation to the governor also included the Deputy Speaker of the Oyo State House of Assembly, Rt. Hon. Mohammed Fadeyi; Oloye Nureni Akanbi; commissioners; local government chairpersons; and other government officials.

Governor Makinde’s remarks reaffirm his administration’s commitment to economic stability, peaceful coexistence, and investor confidence, positioning Oyo State as a beacon of development in Nigeria.