Oyo State is positioning itself as Nigeria’s new investment hub as it prepares to host a global investment summit in London, United Kingdom, to attract fresh capital into key sectors of its economy.
The summit, themed “Accessing the Pioneer Advantage to Sustainable Investments in Oyo State,” is being organised by the Oyo State Government through the Oyo State Investment and Public-Private Partnership Agency (OYSIPA).
It aims to showcase the state’s expanding investment opportunities in agribusiness, solid minerals, sustainable energy, and tourism.
Under Governor Seyi Makinde’s administration and guided by the Oyo State Roadmap for Accelerated Development (2019–2023), the state’s economy has experienced remarkable growth—from ₦2.75 trillion in 2019 to ₦4.05 trillion as of the third quarter of 2022.
Despite the challenges posed by the COVID-19 pandemic, Oyo State’s Internally Generated Revenue (IGR) rose by over 90 percent between 2019 and 2022.
The state also recorded a direct assessment tax of more than ₦250 million in 2022, an indication of a strengthening middle class and rising business confidence.
In that same period, Oyo attracted a wave of micro, small, and medium enterprises (MSMEs) as well as large-scale industries. Notably, it became home to Shell Nigeria Gas Limited’s first gas project in the state, while Psaltry International established Africa’s first cassava-based sorbitol factory, both underscoring the growing industrial appeal of the region.
According to OYSIPA, the forthcoming summit in London will bring together private sector players, development partners, financial institutions, policymakers, and government officials to engage in strategic discussions on sustainable development.
The agency said the summit will not only provide investors with a clear understanding of Oyo State’s business environment but also offer insight into the incentives, support systems, and aftercare structures that make the state investor-friendly.
The government expressed optimism that the London summit will galvanise new investments, deepen international partnerships, and cement Oyo State’s reputation as one of Nigeria’s most business-ready destinations.
