Makinde: Oluyole Free Trade Zone to Become Oyo’s Industrial Hub, Create Thousands of Jobs

Oyo State Governor, Seyi Makinde, has announced that the Oluyole Free Trade Zone will become a benchmark for excellence and innovation, generating thousands of jobs and promoting shared prosperity across the state.

Makinde made the remark on Wednesday during the signing of the Joint Venture Agreement for the Oluyole Free Trade Zone between the state government and Euro FMCG Universal Beverages Limited. The disclosure was made in a statement issued by his Special Adviser on Media, Dr. Sulaimon Olarenwaju.

Speaking at the ceremony held in the SSG Conference Room, Secretariat, Agodi, Ibadan, the governor—represented by his Chief of Staff, Segun Ogunwuyi—said the project would drive employment, create value, and stimulate long-term economic growth in Oyo State.

He emphasised that his administration has focused on developing a competitive, investor-friendly economy by investing in infrastructure, improving the ease of doing business, and enabling private-sector-led development.
“Today marks a defining step in our efforts to position Oyo State as a leading destination for industrial expansion and global investment,” he said. “The Oluyole Free Trade Zone is more than just a project—it is a catalyst for job creation, value generation, and sustainable economic transformation.”

Makinde added that the partnership with Euro FMCG Universal Beverages Limited reflects their capacity and vision to unlock the full potential of the zone. The first phase, known as the “CGM-Oluyole Free Trade Zone,” will cover 500 hectares.

The Chairman of Euro FMCG Universal Beverages, Tun Tun Win, thanked the governor for fostering an enabling environment for investors, assuring that the company would commence operations immediately. He said the zone would boost exports, increase state revenue, and generate local jobs.

The Director-General of the Oyo State Investment and Public-Private Partnership Agency, Tilewa Folami, applauded the governor’s drive to expand the state’s economy through strategic partnerships. He noted that the project, located along the Senator Rashidi Ladoja Circular Road corridor, is expected to accelerate industrialisation and economic transformation in Oyo State.