Oyo State governor, ‘Seyi Makinde, has said the economy must be repaired in order to free the people from poverty.
This was as he declared that, despite the challenges and hardship facing the country, all hands must be on deck to repair the economy, rather than trade blames.
The governor maintained that one of the ways to achieve such repair is for the country to shift its focus to export orientation, instead of import substitution.
Governor Makinde stated this on Monday at the opening of the Oyo State International Trade Fair, “EXPOYO 2024”, which returned after a 15-year hiatus.
He declared open the event with the theme, “Showcasing the Economic Potentials of Oyo State Through Agriculture, Micro Small and Medium Enterprises”, at the Permanent Trade Fair Complex, Sango, Ibadan.
He noted that developing export market, rather than focusing on producing for local consumption will help in improving the economy and the currency of the country.
The Oyo State helmsman also made it known that his government remained open to bringing prosperity to the state.
He noted that, though people argue that allocations from the Federal Accounts Allocation Committee (FAAC) have doubled, states only have 26 per cent of the allocations.
He therefore stated that all stakeholders must work together to bring Nigeria and Nigerians out of the current hardship.
Governor Makinde also said, with the return of EXPOYO, the once popular fair will now be an annual event.
He said, despite insinuations that second-term governors are often laid back in terms of performance, his government resuscitated EXPOYO and has been breaking new grounds in expanding the state’s economy.
He said: “It is my pleasure to be here to declare open the International Trade Fair EXPOYO 2024, and I want to assure this gathering that it will be an annual event.
“We all know that people say second-term governors don’t work but this did not happen in my first tenure but it has happened in the ongoing second tenure.
“This is a very tough period for us as a country. 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. I can see notable industrialists here. It is about time we changed our orientation. People will talk about what we produce in Nigeria and showcase the economic potential of Oyo State.
“We are not interested only in things that we will consume locally in Oyo State. Import substitution means you are looking at only your own market. Export orientation means we want to produce here and sell to the world and earn the necessary foreign exchange.
“For us here, it is a challenge for the Oyo State Council of Chambers of Commerce, Industry, Mines and Agriculture (OYCCIMA) and the industrialists in our midst.
“We must develop our export market and attract foreigners so that, in the years to come, this exhibition will become truly international.
“As for OYCCIMA, we have a conducive atmosphere, not just for exhibition, but for trade and industrialisation. We want to attract investments to Oyo State.
“It is not acceptable to me or to any of us here that a state, which is 120km away from here, is generating over N65 billion every month in IGR and we are struggling to generate N4 billion monthly.”
Governor Makinde promised a conducive environment for trade and industrialisation to attract investors to the state.
This was as he charged OYCCIMA to also attract foreign investors so that the fair would become really international in the years to come.
Earlier in his welcome address, the Commissioner, Ministry of Trade, Industry, Investment and Cooperatives, Chief Ademola Ojo, said the governor has been expanding the economy of Oyo State.
He said this Makinde is doing by working in concert with the players in the private sector and leveraging the state’s potential to move the state forward.
Ojo called on the people of the state to be part of the epoch-making fair and equally assured that Makinde’s administration’s policies will continue to enhance ease of doing business in the state.
Also in his address, President, OYCCIMA, Dr. Daniel Gbadero, appreciated Makinde for his exceptional economic transformation agenda and his support towards the success of EXPOYO 2024.
The Oyo State governor and his entourage later inspected the trade fair exhibition ground.
