Governor Seyi Makinde of Oyo State has officially signed the Oluyole Free Trade Zone Joint Venture Agreement with Euro FMCG Universal Beverages Limited, marking a significant milestone in the state's economic development agenda.
A New Era for Oyo State Economy
The signing ceremony took place on Wednesday at the SSG Conference Room, Secretariat in Agodi, Ibadan. Governor Makinde, represented by his Chief of Staff Otunba Segun Ogunwuyi, declared that the Oluyole Free Trade Zone will become a model of excellence and innovation that will create thousands of employment opportunities and bring shared prosperity to state residents.
The governor emphasized that his administration has maintained focus on building an open, competitive economy that supports investors through improved ease of doing business, enhanced infrastructure, and clear pathways for private sector-led development.
Partnership for Economic Transformation
During the event, Governor Makinde described the partnership as a defining step in positioning Oyo State as a leading hub for industrial growth and global investment. He stated that the Oluyole Free Trade Zone represents more than just a project - it serves as a catalyst for job creation, value generation, and long-term economic transformation.
The initial phase of the project will cover 500 hectares of land, with the first quadrant named 'CGM-Oluyole Free Trade Zone'. The governor recognized Euro FMCG Universal Beverages Limited as a strategic partner with the vision, expertise, and capacity to unlock the zone's full potential.
"Together, we are laying the foundation for an investment ecosystem that will serve our people, expand industrial capacity, and boost export-led growth," Makinde affirmed.
Stakeholders Express Confidence in Project
Mr. Tun Tun Win, Chairman of Euro FMCG Universal Beverages, expressed gratitude to Governor Makinde for the partnership opportunity and for creating an investor-friendly environment. He assured that operations would commence immediately, with the zone expected to generate employment for domestic supply within Nigeria while facilitating exports to global markets and boosting state revenue.
Mr. Tilewa Folami, Director-General of the Oyo State Investment Public-Private Partnership Agency, commended Governor Makinde's efforts in expanding the state economy through strategic partnerships. He noted that the project, located around the Senator Rashidi Ladoja Circular Road corridor, will drive economic transformation and industrialization across Oyo State.
The event attracted numerous high-profile attendees including Commissioner for Lands and Urban Development Mr. Williams Akin-Funmilayo, Commissioner for Budget and Economic Planning Prof. Musibau Babatunde, and Commissioner for Justice/Attorney General Barrister Biodun Aikomo, represented by Mrs. G.O. Sanni.
Other distinguished guests included Chairman of the Oyo State Advisory Council Chief Bolaji Ayorinde, Oba Abiodun Kola-Daisi, Amotekun Corps Commandant Col. Olayinka Olayanju (retd), and representatives from Euro FMCG Universal Beverages Limited Mr. Zajesh Koleti and Mr. Akinlabi Apara.
