The Nigerian Investment Promotion Commission (NIPC) has concluded arrangements to partner with Oyo State Government to establish an Investment Promotion Agency (IPA) and set up One Stop Investment Center (OSIC) in the State. The setting up of an IPA and OSIC is at the instance of the Oyo State Government.
The Executive Secretary of the Nigerian Investment Promotion Commission, Engr. Mustafa Bello, who received the Commissioner of Trade and Investment, Oyo State, Mr. Adebayo Olagbenro, in his office during a courtesy visit commended the Governor of the state for his effort at creating conducive and friendly environment to attract investments.
Engr. Bello, who recalled with nostalgia how the old Oyo State was the center of trade and investment in the Western region of the country, however, noted with satisfaction the effort of the present Governor, Senator Abiola Ajimobi to return the state to its lost glory; “The effort of His Excellency, the Governor of Oyo State to set up an Investment Promotion Agency (IPA) and replicate the One Stop Investment Center (OSIC) in the state is a welcome development and will make the state to be more competitive as investment destination. NIPC will partner with them for its successful take-off”, he stated.
He maintained that Oyo State has all it required to attract investment, even as he said that Ibadan is adjudged the largest city in West Africa, adding that its proximity to Lagos is an added advantage.
According to him, theGovernor’s effort to transform the economic value of the state through investments is quite commendable”. He noted that through massive investment and revamping of industries in the state, employment will be generated and wealth will be created and the economy will be boosted.
The NIPC Chief Executive stated that every state of the Federation has its own economic values and these values must be harnessed, tapped and exposed to both local and international investors. He, therefore, called on various State Governments to work closely with the Commission in order to promote and facilitate investments into the Nigerian economy.
Bellocommended the Oyo State Government for its interest to host the annual National Conference on Investment usually organised by the Commission to promote investments.
Speaking earlier, the Commissioner of Trade and Investment, Oyo State, Mr. Adebayo Olagbenro, stated that his governor is committed to attracting massive investments to the state; hence he has been traveling to many countries of the world to promote the investment opportunities that abound in the state. He further stated that the State Government is working seriously to create an enabling environment for investment to thrive.
“We are here to seek the NIPC support and assistance in setting up an Investment Promotion Agency (IPA) and replicate the One Stop Investment Center (OSIC) that you have in our state” and “to seek for a cordial working relationship between us,” he added.