Governor Ademola Adeleke of Osun State has declared his administration’s unparalleled commitment to promoting local content development as a critical strategy for economic growth and job creation.
Speaking at the Osun Trade Fair 2024 held at the Trade Fair Complex, Aje International Complex, Ido-Osun, Governor Adeleke emphasized that the fair’s theme, Developing Osun Local Content Value Chain for Shared Prosperity, aligns with his administration’s five-point agenda, which prioritizes agro-based industrialization for wealth and employment creation.
Represented by his Deputy, Prince Kola Adewusi, Governor Adeleke reiterated his government’s dedication to accelerating investment in Osun State and identifying economic opportunities to transform the state.
He disclosed that major infrastructural projects are being handled by local contractors, thereby fostering economic growth within the state.
“As local content is a tool for economic development, our multi-billion-naira infrastructure plan ensures that Osun’s money revolves within Osun’s economy. Our policy not only empowers grassroots businesses but also transfers skills to local workers, enabling them to serve as skilled service providers,” he stated.
The Governor highlighted key initiatives aimed at creating a conducive environment for businesses, including the introduction of a 40-day window for processing certificates of occupancy to enhance business capacity and financial transactions.
He also announced the implementation of a harmonized tax system to eliminate the challenges posed by multiple taxation.
Additionally, Governor Adeleke revealed that his administration had revived the state’s free trade zone, a project expected to generate over one million direct and indirect jobs, further accelerating Osun’s industrialization.
Call for Long-term Planning and Youth Mobilization
In his keynote address, Sir Demola Aladekomo, Founder of Chams Plc and Executive Chairman of SmartCity, stressed the importance of long-term planning over short-term profit.
He called for mass mobilization involving mothers, market leaders, and community heads to educate and mentor youths.
“Our education system is on the brink of collapse, and without urgent intervention, the consequences could be disastrous. The government must prioritize creating an emergency think tank for education and revamping the agricultural sector, which remains crucial for sustainable development,” Aladekomo said.
He urged the Osun State Chambers of Commerce, Industry, Mines, and Agriculture (OSUCCIMA) to develop a collaborative framework with the government to tackle challenges and enhance educational and agricultural sectors.
Diversifying Osun’s Economy
Speaking on the need to diversify the state’s economy, Osun State Commissioner for Commerce and Industry, Rev. Bunmi Jenyo, described the trade fair as a vital platform for businesses, government bodies, and industry stakeholders to connect and explore new markets.
He noted that Nigeria’s over-reliance on the oil sector had hindered growth in other areas.
“To achieve economic sustainability, Governor Adeleke’s administration is committed to adding value to the Osun economy through commercialization, industrialization, and the creation of wealth and job opportunities for the people,” Rev. Jenyo said.
Improving the Ease of Doing Business
President of OSUCCIMA, Dr. Olu Olujide, called on the state government to focus on improving the ease of doing business in Osun
He outlined critical areas such as infrastructure, regulatory frameworks, skills development, and labor policies as essential for attracting investors.
Dr. Olujide also recommended periodic evaluations of government agencies to ensure accountability and efficiency.
The Osun Trade Fair 2024 provided a platform for showcasing the state’s potential and underscored the government’s commitment to leveraging local resources for sustainable economic development.
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