Makinde To Send Oyo State Investment Promotion Agency Bill to the State Assembly

Source: Oyo Insight

Governor Seyi Makinde has said that his administration would set up the Oyo State Investment Promotion Agency.

Makinde, who spoke during the inauguration of the 9th Oyo State House of Assembly, assures that two bills are going to be the first to be sponsored by his administration.

He said: “I, therefore, want to use this opportunity to mention that two of the first bills the executive will be sponsoring are; the Oyo State Investment Promotion Agency Bill and the Oyo State Financial Crimes Commission Bill.

“In keeping with our campaign promise to make Oyo State the preferred investment destination in Nigeria, the Oyo State Investment Promotion Agency (OYSIPA) Bill, 2019, will birth an agency that will initiate, promote, facilitate and coordinate investments in the state through Greenfield, Public-Private Partnerships, Privatization, Commercialization of state-owned assets, and transform the economy of the state through strategic Asset Management.

Oyo Assembly Passes Bill to Establish Investment Promotion Agency

Source: The News Nigeria

The Oyo State House of Assembly has passed into law the executive bill to establish the Investment Promotion Agency aimed at giving necessary legislative backing to the state government to attract investors into the state.

The bill which was sent to the house by the State executive arm of government led by Governor Seyi Makinde was passed into law on Thursday, October 3, 2019, at the plenary session in Ibadan.

Speaking on the newly created Agency, the Oyo State Speaker, Rt. Hon. Adebo Ogundoyin said the law is aimed at giving necessary legislative backing to plans of the state governor to woo investors into the state.

According to him, the law is to initiate, promote, and facilitate investments in the state as one of the cardinal plans of the government to make the state the hub for both local and foreign investors.

Ogundoyin said, “As Oyo State 9th assembly, we believe it is not about the number of the bills passed as lawmakers, but about the qualities of the bills, their effectiveness, and direct or indirect positive impacts on our people’s lives. Passing into law the executive bill to establish Investment Promotion Agency reaffirmed our commitment as 9th assembly towards making effective investment policies that will boost the Oyo State economy.”

Oyo State Government is setting up the One stop Investment Centre

Source: Oyo State Website

Following the passing of the Investment Promotion Agency Bill into law, the Oyo state government has moved to set up the One Stop Investment Centre in the state in partnership with the Nigerian Investment Promotion Council and PPP Agency.