19th February 2025
Oyo State Governor, Seyi Makinde, has emphasized the vital role of subnational governments in driving Africa’s trade and investment growth, stating that real economic integration must start at the state and regional levels.
Speaking at the Africa Business Forum 2025 in Addis Ababa, Ethiopia, on Wednesday, Makinde urged the United Nations Economic Commission for Africa to engage subnational entities in fostering economic development.
In a statement by his Special Adviser on Media, Sulaimon Olanrewaju, Makinde highlighted that while trade and investment policies are shaped at the national level, their execution depends on state and local governments.
“When we talk about trade, investment, and integrating Africa’s economies, decisions may be made at the national level, but execution must happen at the subnational level,” he said after a ‘Show and Tell’ session at the event.
He noted that Oyo State has leveraged agribusiness to drive economic growth, import substitution, and foreign exchange generation.
“Our strength lies in agribusiness and agriculture, and we are positioning Oyo State to take full advantage of opportunities across Africa. We are not just producing for Nigeria but also working towards export and foreign exchange earnings,” Makinde said.
He cited the Fashola Agribusiness Industrial Hub as a major success, attracting local and international interest.
“The Fasola farm estate has welcomed high-profile visitors, including presidents of other nations. In two weeks, I will host the President of Sierra Leone there. We are also strengthening ties with the Republic of Benin, as Oyo State shares borders with them at Saki and Iwajowa Local Governments,” he added.
Makinde stressed the need for cross-border economic partnerships and an enabling environment for trade and investment, asserting that Africa’s future depends on collaboration and integration at the subnational level.
