Index to Nigerian Newspapers

Makinde Signs Oluyole Free Trade Zone Agreement

The establishment of the Oluyole Free Trade Zone in Oyo State represents a significant step toward industrialisation and economic diversification in Nigeria. During the signing of a Joint Venture Agreement between the Oyo State Government and Euro FMCG Universal Beverages Limited, Governor Seyi Makinde stated that the project would become a model of excellence, innovation, and shared prosperity. The initiative is designed to generate thousands of employment opportunities, promote value creation, and stimulate long-term economic transformation within the state. The governor emphasised his administration’s commitment to creating an investor-friendly environment through infrastructural development, improved ease of doing business, and policies that encourage private sector participation. The first phase of the project, known as the CGM-Oluyole Free Trade Zone, covers 500 hectares and is expected to attract domestic and foreign investments, expand industrial capacity, and enhance export-led growth. Representatives of Euro FMCG Universal Beverages Limited expressed confidence in the state’s investment climate and pledged immediate commencement of operations. The project, located along the Senator Rashidi Ladoja Circular Road corridor, is expected to increase state revenue, facilitate exports, and strengthen Oyo State’s position as a leading industrial and investment destination in Nigeria.

Adegbite Ademola | Free Trade Zone-Jobs Creation | Punch Newspaper | Thursday, November 20, 2025