Oyo State Governor, Seyi Makinde, has called on the country’s citizens to focus on developing the export market to attract foreign investment in an effort to turn around Nigeria’s economic fortunes.
He made the call on Monday at the Official opening of Oyo State International Trade Fair, EXPOYO 2024.
Governor Makinde also noted that the strategy would create new jobs, attract foreign exchange and help to diversify the economy.
The EXPOYO 2024 themed: “Showcasing The Economic Potentials of Oyo State Through Agriculture, Micro, Small and Medium Enterprises”, was held at the popular EXPOYO ground, Samonda, Ibadan.
In his address, Makinde promised that the trade fair will henceforth be an annual event with foreigners present at the next edition, while noting that his administration is committed to changing the Nigerians orientation on export substitution.
The governor outlined the challenges facing the nation’s economy, from rising inflation to a weakening currency, and called for decisive measures to address these issues.
He called on the Federal Government to implement reforms to jumpstart the economy and prevent further deterioration.
Makinde said the poor state of the economy has sent shockwaves throughout Nigeria, with many people fearing that the situation is even worse than imagined.
The governor acknowledged that implementing these reforms would not be easy and would require a significant effort from all stakeholders.
He called for a commitment to “thinking outside the box” and making difficult decisions to move the country forward, while the governor also highlighted the importance of creating an enabling environment for businesses to thrive.
He said: “This is a tough period for us as a country. Economically, things are not going fine, but this is not the time to give up. This is the time for us to look at opportunities, because anytime there are challenges, opportunities also abound.”
“For us in Oyo State, we will not give up. It’s time for us as a country to change our orientation. We are not interested only in things that we will consume locally in Oyo State, export of our essential needs are needed. We need to build our export orientation.”
“What we produce here and sell to the world and earn necessary foreign exchange so that naira and dollar will be at per.”
“We must develop our export market, we must attract foreigners and in the years to come, this exhibition will become truly international.”
“This is not the time to start trading blames, this is the time to roll up our sleeves, bring people on and let us repair our economy so that we can take our people from poverty to prosperity,” Makinde stated.
Earlier address of welcome, the state’s Commissioner for Trade, Industry, Investment and Cooperatives, Chief Ademola Ojo, assured that the state government would do everything within its capacity to ensure that the Fair becomes an annual event, pledging the Ministry would work closer with Oyo State Council of Chambers of Commerce, Industry, Mines and Agriculture (OYCCIMA) to ensure that the Permanent Trade Fair Complex is maximally utilized.
In his remarks, the President of Oyo State Chambers of Commerce, Industry, Mines, and Agricultural Dr. Daniel Gbadero equally lauded Governor Seyi Makinde who as part of his Economic transformation agenda for the State supported OYCCIMA to organize the 2024 EXPOYO Trade Fair.
He, therefore, called on Nigerians to take the bull by the horns and do the needful to ensure that basic products, including foods, medicine, Motorized gadgets among others are produced within the country.
In his goodwill message, the president National Chambers of Commerce, Industry, Mines and Agriculture, Otunba Dele Oye assured the Oyo state government of necessary support needed from the National level.