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Oyo Government has Justified investments in state’s economy.

9Janewshub.com.ng reports that the Oyo State government has disclosed that the State has deployed huge investments in urbanization, agribusiness, sustainable energy among others to conquer poverty and attract foreign investors.

The state Commissioner for Budget and Economic Planning, Professor Musbau Babatunde, has disclosed that the poverty to prosperity mantra of the state government is an efficient guideline for intended achievements.

The commissioner made the declaration in Ibadan on Tuesday, during the opening ceremony of a two-day stakeholders engagement forum on agenda 2040 constituted by the state Ministry of Budget and Economic Planning in conjunction with the United Nations Children’s Fund, (UNICEF), in Ibadan.

Prof. Musbau was of the view that Economic development would attract investors to boost human capital and social development in developing infrastructure and sustainable environment for thriving business – activities.

While highlighting the contents of the 2040 agenda, he noted that the plan was mapped – out to chart a strategic direction and then create expected results to birth the Oyo state of the current administration’s dream.

This, according to him, was done after critical evaluation of sectorial analysis with policy and regulatory environment in which 28 thematic areas would be examined for integrated framework for continued growth of sectors paramount to trade and investment purposes of the state.

According to Musbau, “we are actually in a validation workshop of the agenda 2040 of the state’s development plan and this plan actually comprises of about four main pillars which is actually economic development, human capital and social development, infrastructure as well as sustainable environment”.

He said further that ” we have brought this plan together in order for us to be able to chart a strategic direction for Oyo state towards ensuring a sustainable development that move the state from poverty to prosperity’.

The honourable Commissioner also added that “the development mantra is poverty to prosperity in which we have tried to chart a baseline and then create target”.

Earlier in her address, the Permanent Secretary, Ministry of Budget and Economic Planning, Mofoluke Adebiyi, stated that the validation exercise is expected to develop every nook and cranny of the state.

Adebiyi added that the draft development plan containing yearnings of people of the state has been recorded and would be scrutinized by the technical working groups before finalization and subsequent submission to the state executive council for implementation to develop the state accurately.

She urged officials of Ministries, Department and Agencies to be observant and make recommendations where necessary to avoid errors as a 20-year-Medium Term Development Plan would be deduced to serve as working document for successive Governments in the state.

While delivering his goodwill message, lead consultant, Professor Olu Ajakaiye, commended participants for their inputs in the agenda 2040, which he said, was borne out of demands of the people from the Oyo state Government to improve their standard of living.

Representative of UNICEF, Mohammed Okorie, hinted during his opening remark that long-term plan is germane to effectiveness of critical sectors of the economy.


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