Ministry of Trade, Industry and Cooperatives

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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 Group
  • 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.

  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.