The Oyo State Government has initiated the development of the Oluyole Free Trade Zone through a Joint Venture Agreement with Euro FMCG Universal Beverages Limited as part of its strategy to promote industrialisation and attract global investment. Governor Seyi Makinde stated that the project will serve as a model of excellence and innovation by generating thousands of jobs, encouraging value creation, and fostering shared prosperity for residents. The governor emphasised that his administration has focused on creating an investor-friendly environment through infrastructural development, improved ease of doing business, and policies that support private sector participation. The first phase of the project, known as the CGM-Oluyole Free Trade Zone, covers 500 hectares and is expected to establish an investment ecosystem that will expand industrial capacity and boost export-led growth. Representatives of Euro FMCG Universal Beverages Limited expressed commitment to commencing operations immediately, with expectations that the project will increase employment opportunities, facilitate exports, and enhance state revenue generation. Located along the Senator Rashidi Ladoja Circular Road corridor, the free trade zone is projected to become a major catalyst for economic transformation, positioning Oyo State as a leading centre for industrial growth and investment in Nigeria.
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