Governor Seyi Makinde says the Oluyole Free Trade Zone is an offshoot of his open economy plan to create jobs and foster shared prosperity among residents and investors.

Mr Makinde said this in Ibadan on Wednesday during the signing of the Oluyole Free Trade Zone Joint Venture Agreement between the Oyo government and the Euro FMCG Universal Beverages Limited.

The governor added that the trade zone would be a model of excellence and innovation.

According to him, his administration has kept its eye on the ball in building an open economy that is competitive and supportive of investors.

Mr Makinde maintained that the Oluyole Free Trade Zone would create thousands of jobs, generate value, and drive long-term economic transformation for the state.

He added that the partnership with Euro FMCG Universal Beverages Limited would expand and unlock the zone’s potential. This, he said, would be for an investment ecosystem that would serve the people and expand the state’s industrial capacity.

“The Oluyole Free Trade Zone is more than a project; it is a catalyst for jobs, value creation, and long-term economic transformation. Oyo state government remains fully committed to building an economy that is open, competitive, and supportive of investors.

“We have strengthened the ease of doing business, improved infrastructure, and created a clear pathway for private sector-led development. This partnership is a testament to that commitment,” he said.

The chairman of Euro FMCG Universal Beverages Limited, Tun-Tun Win, thanked Mr Makinde for the opportunity to partner with the state. He also appreciated the governor for creating a friendly environment for investors and businesses to thrive.

Mr Win assured that the company would begin operations immediately.

He said that the trade zone would create employment for domestic supply within Nigeria, promote export of goods to countries across the globe, and boost state revenue.

Tilewa Folami, director-general of Oyo State Investment Public-Private Partnership Agency, commended Mr Makinde’s efforts in expanding the state economy through investors and partnerships.

Mr Folami added that the project, which is around the Senator Rashidi Ladoja Circular Road corridor, will bring economic transformation and industrialisation to the state.

(NAN)