The Oyo State House of Assembly has applauded the Oyo State Investment Promotion Agency Bill 2019 brought before the lawmakers by Governor Seyi Makinde as one that will enlarge the economic base of the state and promote investment in all its ramifications which will in turn bloster the state’s Internally generated Revenue (IGR).
This was part of the submissions of the house on Thursday at its plenary during the second reading of the Oyo state Investment promotion agency bill,2019.
According to the house, the purpose of the agency is to initiate, promote,facilitate and coordinate investments in Oyo state that will lead to a robust economic activities in the pacesetter state.
The Speaker, Oyo State House of Assembly, Right Hon Adebo Ogundoyin said in line with one of the cardinal programs of this administration, the Investment promotion Agency is very timely and it will come up with policies that will expose the State Government to working with investors and business partners to develop the natural resources and assets of the state while also exploring the windows of Public Private Partnership and other business and financial arrangements for the complete turn around of the economy of the state.
He said further that the Agency when fully operational will equally develop and maintain a comprehensive and reliable database on investment opportunities for effective planning, especially in areas where the state has comparative and competitive advantages.
While decrying the high level of unemployment in the state and Nigeria, the Speaker maintained that the investment promotion activities of the agency will lead to job creation for the residents of Oyo state as well as ensure the growth of the local private sector.
It will be recalled that the Oyo state Investment Promotion Agency bill,2019 is one of the executive bills which the 9th Oyo Assembly has promised to give accelerated hearing to pursuant to the economic blueprint of the present administration in the state.
Other bills include the Anti-grazing bill and the Anti-graft Agency bill already before the lawmakers.
