Nigeria should focus on exports to improve its economy, Gov. Seyi Makinde of Oyo State said on Monday in Ibadan.

“Giving priority to the development of the export market instead of focusing on production for local consumption will lift the country out of its economic woes.

“One of the ways to rejuvenate the economy is to shift focus to exports instead of import substitution,’’ Mr Makinde said while declaring open the Oyo State International Trade Fair tagged: “EXPOYO 2024’’.

He noted that the rejuvenation of the economy required collective efforts to free the masses from poverty.

“It is a very tough period for Nigeria economically; things are not going the way we want, but this is not the time to give up.

“It is the time to look at opportunities because opportunities are always lurking in the corner when there are challenges.

“For us in Oyo State, we are not giving up. It is about time we changed our orientation.

“We must develop our export market and attract foreigners so that in the years to come, this exhibition will become truly international.

“We have an atmosphere conducive not just for exhibition but for trade and industrialisation. We will use it to attract investments to Oyo State,’’ the governor said.

Mr Makinde charged the Oyo Council of Chambers of Commerce, Industry, Mines and Agriculture (OYCCIMA) to also attract foreign investors so that the trade fair would become really international in years to come.

Earlier in an address of welcome, commissioner for trade, industry, investment and cooperatives, Ademola Ojo, said the trade fair was organised by the state government in conjunction with OYCCIMA.

He said Mr Makinde’s administration had been expanding the economy of Oyo state by working in concert with the organised private sector and leveraging the state’s potential to move the state forward.

Mr Ojo assured all investors and industrialists that the administration’s policies would continue to enhance the ease of doing business in the state.

In his remarks, president, OYCCIMA, Daniel Gbadero, appreciated the governor for his exceptional economic transformation agenda and his support for the success of “EXPOYO 2024’’.

The trade fair: “EXPOYO last held in 2009.

The theme for “EXPOYO 2024’’ is: “Showcasing the economic potentials of Oyo State through agriculture, micro, small and medium enterprises.’’

(NAN)