The Oyo State Government has reiterated its unwavering commitment to strengthening collaboration with the organized private sector as a strategic pathway to accelerating economic growth and industrial development in the State.
This assurance was given at the Investiture Ceremony of Chief Emmanuel Folorunso Ogunnaike, MFR, JP, as the 23rd President of the Ibadan Chamber of Commerce, Industry, Mines and Agriculture, held at the Jogor Centre.Ibadan.
Representing the State Government, the Honourable Commissioner for Investment, Trade, Cooperatives and Industry, Honourable Adeniyi Adebisi, commended the Chamber for its longstanding role in promoting business growth, policy advocacy, and enterprise development in Oyo State. He described IBACCIMA as a critical partner in the State’s drive to create a business-friendly environment and attract investments.
The Commissioner congratulated Chief Ogunnaike on his emergence, expressing confidence in his leadership capacity to reposition the Chamber as a stronger voice for the private sector and a catalyst for economic transformation.
The event was chaired by former Deputy Governor of Ogun State, Senator Adegbenga Sefiu Kaka, a distinguished statesman and seasoned administrator, whose wealth of experience in governance and economic affairs added prestige and depth to the ceremony.
His presence underscored the importance of visionary leadership and strong institutional collaboration in driving sustainable economic development.
The Permanent Secretary of the Ministry, Mr. Olajide Mamud Okesade, who was the guest speaker, in his address emphasized that sustainable economic growth can only be achieved through strong synergy between the government and the Organized Private Sector (OPS).
Speaking on the theme, “Government and Organized Private Sector as Critical Drivers for Economic Growth and Development,” he noted that while the government provides the enabling environment through policies and infrastructure, the private sector drives investment, innovation, productivity, and job creation.
He highlighted that Oyo State has continued to position itself as a leading economic hub in Nigeria through deliberate policies in agriculture, trade, industrialization, and infrastructure development.
He added that the State’s strategic location and expanding private sector make it a preferred destination for investment.
The Permanent Secretary further stressed the importance of structured collaboration between government and business membership organizations such as IBACCIMA in areas including policy formulation, trade promotion, SME development, and investment facilitation.
He cited practical examples such as trade fairs, business forums, skills development programmes, and infrastructure partnerships as evidence of the State’s commitment to public-private collaboration.
In aligning with global trade opportunities, he noted that Oyo State has taken a pioneering step under the African Continental Free Trade Area, becoming the first sub-national entity in Africa to launch a domesticated implementation strategy aimed at boosting non-oil exports, enhancing competitiveness, and creating jobs.
Also speaking on export development projects, in the focus of the State Government through the State Committee on Export Promotion, he emphasized the need to strengthen the State Committee on Export Promotion (SCEP) as a one-stop platform to coordinate stakeholders, promote “One State One Product” initiatives, and expand market access across African countries such as Ghana, Togo, Benin Republic, and Côte d’Ivoire. The Council also advocated increased support for product certification, export awareness campaigns, digital promotion of local products, and trade missions to facilitate business-to-business engagements.
In his acceptance speech, Chief Ogunnaike expressed gratitude to members of the Chamber and pledged to build on the legacies of past leadership.
He outlined key priorities of his administration to include completion of the Chamber’s permanent secretariat, an aggressive membership drive, improved welfare for members, revival of trade groups, and strengthened advocacy for business-friendly policies.
He also called on the State Government to intensify efforts toward revitalizing moribund industries, improving power supply, addressing insecurity, and promoting agricultural development as a major driver of economic growth.
He emphasized the need to engage youths in agriculture, describing it as a viable and profitable sector capable of ensuring food security and boosting the State’s GDP.
The new President assured that IBACCIMA would deepen collaboration with government, relevant agencies, and foreign missions to enhance trade opportunities, facilitate access to international markets, and support enterprise development across sectors.
