In a bold move to drive economic growth and diversify its revenue base, the Oyo State Government has expressed keen interest in forging strategic investment partnerships with the United States, particularly in the solid minerals, agriculture, energy, and education sectors.
The call for collaboration came during a high-level meeting on Wednesday at the Governor’s Office in Ibadan. As delegation from the U.S. Consulate General visited the state government. Which was led by Deputy Chief of the Political and Economic Section, Kenise Hill.
Speaking on behalf of Governor Seyi Makinde, Deputy Governor Bayo Lawal highlighted the state’s untapped potential in key sectors. He positioned Oyo as a compelling destination for U.S. investors seeking opportunities in Nigeria’s evolving economy.
Lawal emphasized that Oyo State has a rich array of solid mineral resources. Nearly half of its landmass contains deposits such as lithium, marble, granite, and tantalite. To harness this potential, the government recently established the Solid Minerals Development Agency. The agency aims to streamline data collection and promote transparency. It also seeks to create a business-friendly environment for both local and international investors.
“The agency is positioned to support direct engagement with government or through private sector participation. Our goal is to ensure that investors receive accurate geological data and support to foster sustainable mining practices,” Lawal said.
In addition to mining, Oyo State is also making strides in agribusiness. According to the deputy governor, the state’s agricultural model has become a point of interest for international observers, including the President of Sierra Leone, who visited recently to understudy its operations.
The Makinde-led administration has prioritized food security, investing in agricultural institutions like the International Institute of Tropical Agriculture (IITA) and supporting farmers with access to modern technology, extension services, and mechanization.
“What we need now is financial and technical collaboration to scale what we have already built,” Lawal stated. “Food is a global need, and with the right partnerships, we can ensure sustainable agricultural production that benefits both our state and our partners.”
Lawal also pointed to the state’s significant investments in education, with over 21 percent of its annual budget consistently allocated to the sector since 2019. He noted that the government is integrating technology into the school system to ensure that students are equipped with 21st-century skills.
On the energy front, Oyo State is addressing the chronic power supply issues that have plagued Nigeria’s industrial sector. The construction of an 11KVA hybrid power plant is underway to support public infrastructure and attract industrial development.
“No business can survive without reliable energy. We are ready to collaborate with the U.S. on innovative energy solutions that can drive growth across multiple sectors,” he added.
In her response, Ms. Kenise Hill acknowledged Oyo State’s potential and reaffirmed the U.S. government’s commitment to building economic bridges with Nigeria. She highlighted grant programs that offer up to $2 million in funding, which could be utilized for infrastructure and development projects in the state.
“Our focus is to connect American businesses with Nigerian opportunities. We are particularly interested in the solid minerals and infrastructure space in Oyo State,” she said.
Other members of the delegation, including Josh Egba, Banksharon Nwaneri, and Kenechukwu Onyeke, echoed the desire to deepen collaboration in key sectors that support inclusive growth.
Also present at the meeting were key state officials, including Secretary to the State Government Prof. Olanike Adeyemo, Head of Service Mrs. Olubunmi Oni, Commissioner for Investment, Trade, Cooperatives and Industry, Adeniyi Adebisi, and Commissioner for Environment and Natural Resources, Abdulmojeed Mogbonjubola.
Oyo State is positioning itself as an investment-friendly destination. This engagement marks an important step to attract foreign capital. It also aims to bring in the technical expertise necessary for sustainable development.