Governor Ademola Adeleke has asked investors in the United Kingdom to rush to his Osun state with investments in many fields.
Speaking today, April 9, at the House of Common in London, the governor stressed the need for the United Kingdom government to focus on subnational investment in Nigeria with emphasis on Osun state which he called the heartland of South Western Nigeria.
A statement today by the governor’s spokesperson, Mallam Olawale Rasheed, said that the Governor spoke at an investment working visit hosted by the UK Prime Minister’s Envoy to Nigeria on Trade and Investment, Florence Eshalomi. It was attended by the management team of ESG Management Services UK Ltd and other private sector representatives.
Governor Adeleke said that opportunities in Nigeria, especially in Osun state “are too much to be ignored.”
The Governor stressed that Osun presents a rare opportunity for strong economic partnership, saying that with a population of about five million people, the state is the heartland of Yoruba people.
“South West comprises six states, but Osun state is at the core.
“We have huge potential for investment in mining, agriculture, digital economy, free trade zone, creative economy, and others. We have a well trained labor force and a commendable investment environment.
“Osun boasts of being the most peaceful state in the country with a high rating in the ease of doing business. Our investment environment is boosted by a 45 window for processing of Certificate of Occupancy, elimination of multiple taxation through a unified tax system, and operation of a one-stop shop for investment processes.
“Above all, we have a strict system for the protection of investment and investors. An added advantage is our well-developed business community organised under the Osun State Chamber of Commerce and Industry.”
The Governor, who led a team of businessmen and technocrats, said that the Osun government has reduced the state infrastructure deficit by over 50 percent, promising that by the 2025 intervention plans, the deficit reduction is targeted to be over 70 percent.
Responding, the UK Prime Minister’s Envoy expressed delight at the progress so far recorded by the Osun state government in the areas of attracting foreign direct investment.
She said that the current global uncertainty provides incentive for new investment focus, identifying key positive indices that drive investment as noted in the Governor’s address.
Eshalomi said that she has the mandate of the UK Prime Minister to forge closer links for investment between UK and Nigeria businesses, expressing happiness that Osun state Chamber of Commerce was represented at the meeting.
She acknowledged that Osun has done the spade work in the area of regulatory environment, ease of doing business, investment protection and reliable investment partners, pledging to ensure positive outcome on the engagement between Osun and the UK government.
The major highlight of the meeting was the signing of a Memorandum of Understanding (MoU) for investment facilitation between the Osun State Government and a UK investment facilitation firm, ESG Management Services UK Limited.
The purpose of this MoU is to establish a collaborative framework through which ESGMS will assist the Osun State Government in sourcing and facilitating investment opportunities from UK-based companies in the sectors of agriculture, manufacturing, solid minerals, and other strategic areas. ESGMS will work to identify, manage, and position Osun State’s public assets to be investment-ready for UK trade and business interest.
The MOU was signed on behalf of Osun state government by the Secretary to the State Government, Hon Teslim Igbalaye while Francisco Toju Da-Silva signed for the ESG team.
Members of the Osun State government who accompanied the Governor include the Commissioner for Budget and Economic Planning. Prof Moruf Adeleke; Commissioner for Commerce and Industry, Rev Bunmi Jenyo; Commissioner for Agriculture and Food Security, Hon Tola Faseru; Special Adviser to the Governor on SDG, Hon Bamikole Omishore; Permanent Secretary, Ministry of Budget and Economic Planning, Mrs Yetunde Esan; Vice President, Osun State Chamber of Commerce and Industry, Mallam Olawale Rasheed.
