Africa Business Forum 2025: Sub-nationals Vital to Investments, Trades – Makinde

Oyo State governor, ‘Seyi Makinde, has canvassed for greater involvement and engagement of subnationals in the quest to increase trades and investments in Africa.

The governor stated that though discourses and action plans on trades, investments and integrating the economies of Africa are held at the national level, it is imperative that the implementation is devolved to the subnationals.

The governor said this at the Africa Business Forum 2025 held in Addis Ababa, Ethiopia, charging the United Nations Economic Commission for Africa (UNECA) to do more in the area of engaging with subnational entities in Africa.

Governor Makinde, who participated in a ‘Show and Tell Session’ at the event to discuss what Oyo State, as a subnational, has been doing towards creating a conducive environment for investments and trades, said the state has recorded a huge success with using agribusiness to expand its economy, create import substitution and also generate foreign exchange.

Speaking with newsmen shortly after the session, the governor said: “When they are talking about trade, investment, integrating the economies of Africa, yes, you can talk as you wish at the national level but the implementation will still have to devolve to the sub-national.

“Basically, what I am trying to preach here is to see sub-nationals as the enablers for what we are trying to do under the Africa Continental Free Trade Area, and also to share some of the success stories that we have in Oyo State.

“We know that agribusiness and agriculture are where we have comparative advantage in Oyo State and we have done pretty well to look at how to take on the continent. We are not just saying we want to produce for import substitution in Nigeria. No, we are trying to export, generate FOREX and we are well on the way to do that.”

He explained how the Fashola Agribusiness Industrial Hub project has become a game-changer for the state, attracting interests from other subnationals in Nigeria and even other African countries.

“The farm estate at Fasola has received visitors, including presidents of other countries. In another two weeks, I should be hosting the President of Sierra-Leone out there.

“And we are also trying to collaborate with the Republic of Benin. Remember that Oyo State, at Saki and Iwajowa LGAs, share a border with the Republic of Benin. We have farm estates out there with the same ownership that are trying to establish in Oyo State.

“We only need to create the link and enabling environment. We believe that should be the future of Africa in terms of how we collaborate.”