Oyo State Indicates Interest In US Investment Opportunities

Seyi Makinde, the governor of Oyo State, has stated that the state is willing to work with the US to explore investment

prospects in agribusiness, solid minerals development, education, energy, and other vital areas.

According to Governor Makinde, the state has put in place rules that encourage participation in solid minerals.

This was disclosed by the governor on Wednesday when a group from the US Consulate General paid him a courtesy

call at his office in Ibadan.

The delegation was led by the Deputy Chief, Political and Economic Section, Kenise Hill, at the Governor’s Office,

Secretariat, Ibadan.

Governor Makinde, represented by Deputy Governor Bayo Lawal, stated that the state has put in place policies that

encourage participation in energy development, agribusiness, environmental sustainability, and solid minerals.

“I warmly welcome you to Oyo State and assure you that we possess vast potential that can be leveraged in mutually

beneficial partnerships,” the deputy governor said.

“Our Solid Minerals Development Agency was recently established in response to the challenges surrounding mineral

exploitation in the state. Nearly half of Oyo’s landmass contains diverse solid mineral deposits that can be harnessed in collaboration with the U.S. government.

“You may choose to engage the private sector or work directly with us—either way, the agency will provide you with accurate data and support.

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“Environmental initiatives are another area open to collaboration, as well as agribusiness, which this administration

places high priority on. We believe it is essential that we can feed our people.

“We invite you to visit some of our agricultural institutions, such as IITA, which plays a crucial role in agricultural

research and innovation. What we need now is financial backing to further scale the initiatives we have undertaken.”

He also said that the president of Sierra Leone recently became interested in the state’s agriculture model and

travelled to Oyo State for over a week to see its agricultural practices

He mentioned that the U.S. government could seize this opportunity to support and collaborate with Oyo state in

enhancing food security and reducing poverty, adding that Food is a global necessity and the state remains

committed to meeting the people’s needs with the right support and engagement.

On the issue of energy, Lawal highlighted the state’s ongoing efforts to improve power supply, stressing the importance of reliable energy for industrial growth. “No industry can thrive without sufficient energy,” he added.

Many companies established in the 1980s are exiting Nigeria due to power challenges. To address this, Oyo State is constructing an 11 KVA hybrid power plant to reduce the energy burden on public infrastructure.

“We are ready to collaborate with the U.S. in the energy sector and other areas you find relevant to our mutual goals.”

In her remarks, Kenise Hill, the delegation’s leader, recognised Oyo State’s enormous trade and investment potential.

She reaffirmed that the US government is open to exploring new investment prospects in infrastructure, solid minerals, and other fields.

“Our aim is to connect U.S. industries with Nigerian public and private sector players,” Hill stated.

“We also support infrastructure development through grants—typically up to $2m—that can be used in Oyo State and Nigeria at large. We look forward to working with more stakeholders and identifying opportunities, particularly in the solid minerals sector,” she affirmed.