The Ministry formulates and implements policies and strategies to facilitate investment, trade in services, business development, cooperatives and small business and consumer protection in Oyo State.

Our Vision

• To be the engine for the promotion of economic and industrial growth of Oyo State, so that by the year 2016, the State would have become one of the most conducive place for trade and cooperative activities in Nigeria.
• To streamline the regulatory hurdles for business and investment activity, in order to attract increased investments in all sectors of our economy.

Our Mission

• To promote economic activities through a structured approach for wealth creation.
• Full employment of the people.
• Prosperity in business and effective business management in a friendly business environment.
• Improved standard of living of the people.
• Effective utilization of agricultural products.
• Improvement of revenue profile of the state.

Our Objectives

  • To be the fulcrum of economic and industrial growth that would stimulate
  • Employment opportunities in Oyo State.
  • To stimulate growth of existing Micro, Small and Medium Enterprises (MSMEs) and emergency of new ones in the State.
  • To create a conducive atmosphere for Trade, Investment and Cooperative activities in the State.
  • To put in place a robust and comprehensive investment and entrepreneurial data base of traders.
  • To ensure productivity of the State’s Investments Managers
  • To embrace the idea of Private and Corporate Bodies participation in Trade, Investment and Cooperatives promotions.
  • To foster strong relationship with relevant State and Federal Agencies and Establishments, as well as Local and International Donor Agencies
  • To put in place Legal and Institutional framework that would facilitate the realization of set strategic objectives.
  • Reviewing all existing agreements/concessions/ MOU pertaining to Trade, Investment and Cooperatives Ministry.
  • Grant of palliative interest free loan to Traders at Scout Camp Neighborhood Business Complex to the tune of N20, 000,000.
  • Granting of N300, 000,000 Loan to all traders affiliated with Oyo State Market Leaders Advisory Council.
  • Donation of N50, 000,000 to the National Butchers Union Oyo State Chapter.
  • Release of N10, 000,000 to Igbajo Plank Marketers Songo Ibadan to Cushion the effect of fire disaster in their market.
  • Release of N50, 000,000 to Motor Spare Parts Dealers, Araromi Traders association, Gate Ibadan.
  • Construction of Temidire Plank Market at Fashade Village.
  • Purchase of Project Vehicle for Okerete Trans Border Market, Saki West Local Government.
  • Oyo State Government partnered with Bank of Industry to float One Billion Naira Loan Scheme for Small and Medium Scale Enterprises. About 54 SMEs have benefited from the scheme in which the sum of over N130, 000,000 were released for their Business Development in the State. The scheme is still ongoing.
  • The State Government has embarked on construction of neighbourhood markets at various locations in the State Capital. Some of the projects are to be developed under Private Public Partnership (PPP) arrangement.
  • Oyo State Government partnered with J.I.C.A, a Japanese Government Agency and S. M. E. D. A. N. on the “One Local Government One Product” initiative.
  • Oyo State Government is into partnership with Hometel Hospitality Facilities Ltd in developing two 4 star Hotels in Ibadan. A Special Purpose Vehicle (SPV) has been put in place to actualize the project. This is an institutional arrangement that would facilitate quick completion of the project.
  • A Memorandum of Understanding has been signed by the State Government with Karma Industry Limited on production of Soya Milk in Oyo State.
  • Zamzibar Films, an Irish based organisation has entered into a lease agreement with the State Government for the utilization of Trans Motel Jericho for construction of a World Class Film-Village, which would be the first of its kind in West Africa.
  • Effort to revive the Cooperative College, Oyo has reached advance stage.
  • There is serious achievement in the effort to revitalize Cooperative activities in Oyo State.
  • The State Government is actively involved in the on-going economic integration initiative in the South-West Region of Nigeria to be elaborated.
  • The State Government has established strong links with foreign/local Development Partners and Investors toward putting in place a strong Public Private Partnership. Some of the Public Private Partnership arrangements have reached advanced stages as follows:
    • Courtney Ambrose Farms was allocated 1388.129 Hectares of land in Oriire, LGA for cultivation of maize and cassava for processing of industrial glucose and ethanol.
    • Eden Craft Limited was allocated 3000 Hectares of land at Itasa, Iwajowa LGA for planting and processing of cassava into various products.
    • Vegefresh Company Limited was allocated 5000 Hectares of land at Ayete in Ibarapa North LGA, for production and processing of tomato into various products.
  • The Federal Government effort to complete and commission the Inland Dry Port, Erunmu is in top gear.
  • The Federal Government has also intensified the effort to complete and commission the International Trans-Border Market, Okerete.
  • The State Government through the Ministry hosted the 6th National Council on Industry, Trade and Investment from 22nd to 26th April, 2013.

In order to attract both Local and Foreign Investors to Oyo State, the Ministry of Trade, Investment and Cooperatives through the Governor’s Office has put the following in place;

  • Public Private Partnership
  • Access to Land and cost Waivers
  • Personal Tax Relief
  • Expenditious Processing
  • Provision of Infrastructure
  • Pioneer status – 100% tax holiday for up to seven years for qualified eligible industries located in economically disadvantaged Local Government.
  • Corporate Tax Relief
  • Liberalization of ownership

ORIENTAL FOODS INDUSTRY LIMITED

  • Establishment of a huge Factory along Lagos-Ibadan expressway (funded by the Islamic Bank) in the production of Milk, Vegetable oil, Cereal, and other food items which has created job opportunities for our Citizenry.

Organized a trip to The Peoples’ Republic of China in March 2013.  The trip attracted over 10 Chinese Investors’ Groups to Oyo State which led to:

  • Development of Industrial Park dedicated mostly to the SMEs
  • Establishment of Logistics Centre for Inland Container Depot and Bounded Warehouse
  • Vehicle Assembly Plant Complex:
  • Car Assembly Plant by Geely Group
  • Bus Assembly Plant by Henan Shaolin Group
  • Pickups & SUVs by GAC-GONOW Group
  • Mini-Vans and Mini Trucks by Victory Grou
  • Heavy Trucks by C&A Group
  • Agricultural Tractors by YTO Group

All the six Plants will be located in an area to be designated as Automotive Village.

Another trip to London facilitated the coming of Khama Milk Company which is building the largest Soya Beans Processing Plant in West Africa and who will  be producing Soya Milk and Soya Bean Cake for the Poultry Industry).

The Ministry coordinated the Establishment of PPP unit within the system.

The Ministry established a cordial relationship between the Oyo State Government and various Embassies of different countries which has opened up Oyo State to the international markets.

Establishment of neighborhood markets in all the 33 Local Government areas of the State.

Financial support to Traders and Artisans (interest free loans)

In order to attract both Local and Foreign Investors to Oyo State, the Ministry of Trade, Investment and Cooperatives through the Governor’s Office has put the following in place;

  • Public Private Partnership
  • Access to Land and cost Waivers
  • Personal Tax Relief
  • Expeditious Processing
  • Provision of Infrastructure
  • Pioneer status – 100% tax holiday for up to seven years for qualified eligible industries located in economically disadvantaged Local Government.
  • Corporate Tax Relief
  • Liberalization of ownership
  • Granting of N300 Million Naira Interest-free loan to all traders affiliated to Oyo State Market Leaders’ Advisory Council;
  • Increase in internally generated revenue in Oyo State in 2015 by 35%;
  • Release of N50 Million Naira to Motor Spare Parts Dealers, Araromi Traders Association, Gate Ibadan to cushion the effect of fire disaster in the market;
  • Approval for the Establishment of International Border Post at Saki in Saki-West Local Government;
  • Adequate funding for the construction of neighbouring markets;
  • Capturing of Motor Dealers in the State into the Revenue net of the Government;
  • Extension of Business Premises Registration/Renewal enforcement beyond Ibadan land;
  • Capturing of open stalls users and Private Developers at Ultra-Modern Business Complex, Ogbomoso into the revenue net of Oyo State;
  • Processing of database for Traders, Artisans and Technicians in Oyo State;
  • Sustenance of the pace setting activities of Cooperative Societies which started in Oyo State in 1934 (presently, 9,550 Cooperative Societies are viable in Oyo State);
  • Substantial increase in the revenue generation due to increased activities of the various Departments in the Ministry;

Introduction of annual account form for Cooperative Societies with the following benefits:

  1. provision of necessary data on the cooperative societies in the State;
  2. Encouragement of proper planning for cooperators in the State;
  3. Curtailment of fraud in the cooperative sector.
  • Increase in cottage industries in the State through provision of graduate industrial self-employment loan scheme (The sum of N7.5million was recently released to 31 graduates in the first batch of the scheme);
  • The Ministry has reached 40% of its revenue target for the year 2016 in the first quarter of the year.
  1. Cordial relationship with other tribes in area of commercial activities which led to granting of 1000 hectares of land to Igbo Traders free of charge in Oyo State.
  2. Efforts at establishing of neighbourhood markets in all the 33 Local Government Areas of the State.
  3. Free Interest Loan to Traders and Artisans in the State
  4. Loans granted to 29 Cooperative Societies vide the OYSG/BOI collaboration to the tune of almost N83m.
  1. Production of durable and non-manipulative measuring bowls at subsidized rate to traders in the State.
  2. Revocation /re-allocation of 1000 locked shops at Gbagi (locked up since 2008). To be re-opened and re-allocated to our traders in order to increase the IGR of the State, which will translate to N9,508,5090.00 in IGR.
  3. Approval in principle for the free allocation of open stalls to traders in all the 5 local govrnment areas in Ogbomoso zone at the Ultra Modern Business Complex, Ogbomoso. Please see attached list (Appendix II).  Also, construction of an abattoir is being conceived to bring various activities to the market.
  4. Relocation of automat dealers to old Nitel complex. We are about to clear the area so that all automart dealers will relocate to old Nitel complex.  Quotation has been forwarded to the Ministry for clearing.
  5. The Ministry held a Trade and Investment summit on 14th – 15th of April, 2014 at the Ibadan Civic Center. The summit was sector specific (i.e. agriculture, solid mineral and infrastructure)

OUR TEAM

Hon. (Princess) Taibat Adeyemi-Agaba Honourable Commisssioner

Mr. Wasiu O. Amoo Permanent secretary.

Mr. Bayo Ige Director, Planning Research and Statistics.

Engr.Tajudeen Raji Director, Project Analysis and Implementation

Mr. Samuel A.Okeleye Director, Industry.

Mr. Kolawole G. Bello Director, Finance and Accounts.

Mr. Oyetunji Okanlawon. Director, Trade.

Mr. Olusola A.Ojelabi. Director, Admin and Supplies.

Mr. Micheal O. Akinsanmi Director, Cooperative Services.

Mr. Kabiru I. Alao Director, Revenue.

Engr. (Mrs) Majeedat F. Olanrewaju. Deputy Director, Industry

Mrs. Adedeji M. Arinola. Deputy Director, Cooperative service.

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