Oyo gets $5b commitment from China for trade zone


Gov. Abiola Ajimobi of Oyo State has stated that his administration has secured the commitment of USD5 billion from China in the development of the newly established Free Trade Zone(FTZ) in the state.

The governor made the disclosure while receiving an Industrial Policy and Strategic Document from a delegation of United Nations Industrial Development Organisation (UNIDO) in Ibadan.

The UNIDO team was led by Jean Bakole, representative to ECOWAS and Regional Director, Nigeria Regional Office Hub.

Industrial Policy Document was developed by Oyo State Government with the approval and collaboration of UNIDO.

Ajimobi said the establishment of the FTZ was part of his administration’s determination to make the state an industrial hub of the nation.

Ajimobi said that no fewer than 150 investors from china have signified their intention to invest in the FTZ out of which seven of them have already began work at the FTZ site.

“Our administration has not relented in its efforts at infrastructural development of the state, creation of jobs for the youths, revenue growth and the protection of well-being of the citizenry.

“We have evolved several initiatives in all the various sectors of governance and which have been yielding desired results,’’ he said.

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