Oyo State is unlocking prosperity, saving for tomorrow with AfCFTA - Makinde

Oyo State Governor, Engr.Seyi Makinde, has declared that the state’s massive investment in infrastructure and economic policies is geared towards both present prosperity and future financial stability, underscored by the launch of the state's African Continental Free Trade Area (AfCFTA) sub-national implementation strategy.

Speaking during a post-engagement meeting in Ibadan, Governor Makinde asserted that the launch of the AfCFTA strategy is central to his administration’s goal of sustainable development, envisioning a future where "losers will congratulate winners."

Governor Makinde noted that the state was emboldened to engage with the continental trade agreement becoming the first sub-national in Africa to do so due to its large size, population, and significant infrastructure investments.

He emphasized that combining the state's natural resources with knowledge and productivity is the only path out of poverty.

"We’re not going to wait for the Federal Government, since the agreement itself gave an allowance for us as a sub-national to take our own destiny in our hands," the Governor stated.

He projected that leveraging AfCFTA would result in massive employment creation, numerous opportunities for entrepreneurs, and a substantial boost in trade volumes.

The state plans to target areas of competitive advantage, focusing initially on neighboring countries in West and Central Africa.

The Governor highlighted key infrastructure projects supporting this vision, including the ongoing upgrading of the Ibadan Airport to an international standard.

The airport now has facilities for aviation fuel storage and dispensing, and wide-bodied aircraft, such as the Airbus A330 (the same model used for the Lagos-London route), can now land there, connecting Oyo State directly to the world.

Governor Makinde stressed that while he appreciates being recognized for rebuilding roads, facilities in schools, and hiring over 15,000 teachers and health workers, his true focus lies elsewhere.

"We don't want to be remembered for putting infrastructure... in place. Those things should come naturally. We want to be remembered as an administration for the institutions that we are building, which will ensure good governance and sustainable development in Oyo State well beyond the tenure of this administration," he declared.

The Governor revealed that his administration is not just investing for today but is also saving for tomorrow, having already deposited about $6 million in the Sovereign Wealth Fund it established months ago.

Earlier, Ms. Neo Theodore Tlhaselo, the Special Adviser to the Governor on AfCFTA and International Trade, praised the Governor’s visionary leadership.

She explained that the implementation strategy is a legal instrument that allows Oyo State to engage in bilateral relations and international trade agreements, positioning it as an able partner across the African continent.

The Governor concluded by thanking the AfCFTA technical working group, led by Ms. Tlhaselo, for their diligence, which has positioned Oyo State at the forefront of continental trade.