Home Business NAFDAC, SON, Others Back Oyo’s One-Stop Business Initiative

NAFDAC, SON, Others Back Oyo’s One-Stop Business Initiative


By: Adeola Oladele, Ibadan

Oyo State Government has received the support of major stakeholders in the investment drive with its One-Stop business Shop initiative, as representatives of Manufacturers Association of Nigeria (MAN), Standard Organization of Nigeria (SON), National Agency for Food, Drugs Administration and Control (NAFDAC), among others gave a nod to the initiative of the state government.

The One-Stop Business Shop initiative was borne out of the need to create an environment that would make business and investment establishment in the state convenient for would-be industrialists.

At a meeting with the regulatory agencies on Tuesday in Ibadan, representatives of Oyo State Council of Chambers of Commerce, Industry, Mines and Agriculture (OYCCIMA), Ibadan Chambers of Commerce and affected state government agencies agreed that the initiative was due for establishment.

Mr Yinka Fatoki, the Executive Secretary, Bureau of Investment Promotion and Public/Private Partnership who coordinated the meeting, told WESTERNPOST in an interview that the One-Stop Business Shop would be attending to investors in the next two months.

Fatoki further informed the that the natural resources found in all areas of the state had made it imperative for investors to have interest in establishing businesses in the state, which he said, called for the One-Stop Shop business initiative.

He said the ease of accessing land for industrial purpose and registration of investments were germane to economic growth of Oyo State, adding that the shop would warehouse information of potentials of the state, provide framework for ease of starting business as it would be a melting point for meeting of investors and service providers.

“This is like a melting point for service providers and investors to meet, it will warehouse information about potentials in Oyo State, provide framework for ease of starting business and make it easy for service providers and investors to relate.”

“It is worthy of note that the preponderance of solid minerals in the state as well as vast arable land attract investors to Oyo State and we want to be number one in the next World Bank ranking of States with ease of doing business, that is why we are proud and happy for your support.”

While congratulating the state government on the initiative, the Head of the Southwest region of Manufacturers Association of Nigeria, (MAN), Mr Vikram Deepak disclosed during the progrmme that apart from the existence of the One-Stop Business office at Abuja, Oyo State was the first State to inculcate the move.

Deepak said the move by the state government was an indication that Oyo State would be the next investment hub apart from Lagos as the initiative represented the new face of economic drive in Africa and beyond.

He added that the state in the last six months, had shown a huge support towards investors with its establishment of Oyo State Waste Management Authority (OYOWMA), Free Trade Zone of Pacesetters-China Polaris Corner, the State’s industrial park as well as Ibadan Circular Road which were majorly Public-Private Partnership arrangements.

“We congratulate Oyo State government for the recent stride in breaking the yolk of economic recession through its recent devotion of time and resources unto projects in partnership with private investors to drive development.”

“Look at the Industrial Park, Free Trade Zone and Circular Road projects which were flagged off recently with active collaboration of the private sector, it shows a huge support by the governor for investors to thrive in Oyo State.”

Asiwaju Olaitan Alabi of OYCCIMA and Sir Sola Abodunrin were unequivocal in showing their support to the initiative, as they said business interest would be boosted because of the ease with which they would be registering their investments.

They charged the state government to find ways of increasing its tax base so as to meet its responsibilities, adding that to attract investors, there was the need to provide alternative energy like provision of power supply to the small, medium and large scale industries.

Chief Asiwaju urged government to work on reducing bureaucracy in the initiative as it could turn off investors.

“I congratulate Oyo State government for the success of turning the State around economically, imaging having fifty industries added to the existing ones, that would be a leap frog.”

“We charge government to excuse investors who would be making use of the One-Stop business initiative from the bureaucracy attached to government business and would want them to please put in place an alternative energy source so as to assure investors of stable electricity for production purpose,” said Asiwaju.

Present at the meeting were representatives of NAFDAC, SON, CAC, MAN and state government representatives.



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