Discussions have reached an advanced level between the Oyo State Government and a Spanish Investment Consortium, to create an Industrial Estate on 1,400 acres of land in the state.

Commissioner for Trade, Industry, Investment and Cooperatives, Ademola Ojo, made this known, yesterday, while hosting a Spanish team, led by Mr. Ricardo Serrdno.

Ojo said Governor Seyi Makinde’s government had created a business-friendly environment and improved the ease of doing business in the state. He added that the state was ready to partner with investors to expand business potential, having been blessed with abundant human and mineral deposits, pointing out that the idea was birthed at a summit held in Spain, which also had in attendance the state’s Chief of Staff and Mr. Ricardo Serrdno.

He said when he visited a similar world class Industrial Estate, it was agreed that the Business Hub would be replicated in Africa, Oyo State precisely by the group.

The commissioner stated that the Oyo State Investment and Public Private Partnership Agency (OYSIPA) would look into other critical issues such as the sharing formula and benefits accruable to the state government.

He said the discussion with the team had allayed some of his worries, which include the issue of proof of fund, ability to implement successfully and concerns for the Micro, Small and Medium Entrepreneurs (MSMEs) in the state.

In his response, Mr. Ricardo Serrdno, stated the need to draw out the preliminary master plan and organise how to break down the plots of land into industries, access roads, car parks, among others.