By Mallam Olawale Rasheed
Governor Ademola Adeleke was in the United Kingdom for five working days to achieve specific goals which centers on rejuvenating the Osun state economy. A backgrounder is appropriate for an holistic assessment of the outcome of the visit.
During the Governor’s visit to London in late 2023, he was confronted with investors’ perspectives of Osun state as a state with high infrastructure deficit and low rating on ease of doing business, and therefore with unfavorable investment climate. Governor Adeleke who narrated he inherited the situation as painted by the investors then unveiled what his administration was doing to address those concerns especially with his multi-billion naira infrastructure development plan and concerted efforts to enhance the business environment.
His submissions in 2023 were well received among many investors who subsequently visited Osun state with productive hosting by the Ministry of Commerce and Industry. From 2023 to date, over 100 investors have visited the state with signified interest in the free trade zone, agriculture, digital economy, tourism among others.
Attendance at the 2025 Commonwealth Business Investment Conference was therefore packaged with specific goals and targets. One of it is for the Governor to update the investment community about the state of Osun infrastructure upgrade and implementation of enhanced ease of doing business. The other target is to forge official investment link with United Kingdom through the Prime Minister’s Trade Envoy to Nigeria. The most obvious which the general public always look out for is the amount of investment deals secured on such trip.
Contrary to the fake news and doctored video from members of the opposition, the state governor successfully and flawlessly addressed four major high profile meetings which include the landmark trade meeting in the House of Commons; the address at the Nigerian-British Chamber of Commerce trade mission; the cultural tourism engagement at the British Museum; and the investment briefing with select group of investors. In all the engagements, the Governor’s submissions excited the audience.
Reviewing the trip, key objectives were achieved. I list the following takeaways having provided the above background:
1. Osun investment climate was presented to stakeholders with specific reference to a unified tax system to avoid multiple taxation, 45 days window for processing of Certificate of Occupancy, a one stop shop for investment processing among others;
2. The revival of Osun Free Trade zone was presented with opportunities presented for UK and European businesses interested in the free trade zone model;
3. The reduction of Osun infrastructure deficit by 45 percent and further expected reduction in 2025 by almost 75 percent were graphically presented in term of roads, bridges, health and social facilities to the excitement of the business community;
4. A formal investment facilitation framework and structure was put in place with the signing of Memorandum of Understanding with the ESG Consulting group to relate with the office of UK Prime Minister’s Trade Envoy and interface with the investing community on several opportunities in Osun state;
5. A total of $100 million investment deals was inked with a group of investors who attended the signing of the investment facilitation MOU in the presence of UK Prime Minister’s trade envoy, Hon Florence Eshalomi. The investment areas include agriculture, water, tourism and free trade zone;
6. An investment collaboration framework with the Nigerian-British Chamber of Commerce and Industry was agreed upon during the chamber’s trade mission. Alongside the Osun state Chamber of Commerce and Industry, the relationship is to create a tripartite working framework among the binational chamber, the State government and UK Chamber of Commerce and Industry;
7. A partnership deal with the British Museum on cultural tourism focusing on Osun cultural assets and confirmed huge link between the museum and Ile Ife, the cradle of Yoruba nation;
8. A new framework relationship between the British Museum and the state government on digitization of cultural assets; and
9. Multiple hosting and briefing of Osun indigenes on state of governance at home with two full days of feedback and brainstorming on governance ideas.
All these are testament to the success of the investment trip and the start of good things to come to Osun State.
Mallam Olawale Rasheed,
Spokesperson to the state Governor.
