Governor Ademola Adeleke today at the House of Common in London tasked the United Kingdom government to focus on subnational investment in Nigeria with emphasis on Osun state which he called the heartland of South Western Nigeria.
The Governor made the clarion call at an investment working visit hosted by the UK Prime Minister’s Envoy to Nigeria on Trade and Investment, Rt. Hon Florence Eshalomi MP attended by the management team of ESG Management Services UK Ltd and other private sector representatives.
Governor Adeleke said this is the time Nigeria and the UK should further close ranks in bilateral business relations, citing “the uncertainty in the global economy calls for more partnerships between and among members of the Commonwealth of Nations.
“Aside from binational collaboration, We advocate a further linkage between the British economy and subnational entities in Nigeria. The openings and prospects are too much to be ignored”, the Governor canvassed.
Making a strong case for Osun state as an investment destination, Senator Adeleke noted that “Osun presents a rare opportunity for such an economic partnership. Osun state, with a population of about five million people, is the heartland of Yoruba people. South West comprises six states, but Osun state is at the core.
“We have huge potential for investment in mining, agriculture, digital economy, free trade zone, creative economy, and others. We have a well trained labor force and a commendable investment environment.
“Osun boasts of being the most peaceful state in the country with a high rating in the ease 9f doing business. Our investment environment is boosted by a 45 window for processing of Certificate of Occupancy, elimination of multiple taxation through a unified tax system, and operation of a one-stop shop for investment processes.
“Above all, we have a strict system for the protection of investment and investors. An added advantage is our well-developed business community organised under the Osun State Chamber of Commerce and Industry”, the Governor leading a team of businessmen and technocrats.
He said the Osun government has reduced the state infrastructure deficit by over 50 percent, promising that by the 2025 intervention plans, the deficit reduction is targeted to be over 70 percent.
Responding to the address by the Governor, the UK Prime Minister Envoy expressed delight at the progress so far recorded by the Psun state government in the areas of attracting foreign direct investment.
She particularly noted that the current global uncertainty provides incentive for new investment focus, identifying key positive indices that drive investment as noted in the Governor’s address.
Hon Eshalomi said she has the mandate of the UK Prime Minister to forge closer links for investment between UK and Nigeria businesses, expressing happiness that Osun state Chamber of Commerce was represented at the meeting.
She acknowledged that Osun has done the spade work in the area of regulatory environment, ease of doing business, investment protection and reliable investment partners, pledging to ensure positive outcome on the engagement between Osun and the UK government.
The major highlight of the meeting was the signing of a Memorandum of Understanding for investment facilitation between the Osun State Government and a UK investment facilitation firm, ESG Management Services UK Limited.
The purpose of this MoU is to establish a collaborative framework through which ESGMS will assist the Osun State Government in sourcing and facilitating investment opportunities from UK-based companies in the sectors of agriculture, manufacturing, solid minerals, and other strategic areas. ESGMS will work to identify, manage, and position Osun State’s public assets to be investment-ready for UK trade and business interest.
The MOU was signed on behalf of Osun state government by the Secretary to the State Government, Hon Teslim Igbalaye while Francisco Toju Da-Silva signed for the ESG team.
