Oyo Closes Year with Strategy for Economic Boost

Oyo State Executive Council has approved the Business-Enabling Reforms Action Plan (BERAP) in order to push the economic development agenda of the State in 2025.

In a statement by the Commissioner for Information and Orientation, Prince Dotun Oyelade, the approval will further enhance the ease of doing business and encourage more investors to come to the state to do business.

Presenting the memo before the Executive Council on Tuesday, the Commissioner for Budget and Economic Planning, Prof. Musbau Babatunde, said BERAP will improve access to skilled labour for corporate organisations through the use of the labour electronic register.

According to him, it will also facilitate the establishment of an Export Cluster for cashew, shea butter, arts and crafts.

He noted that, by the approval, the Gross Domestic Product (GDP) of the State will improve while the expected Non-Oil Export revenue will trigger the economy of the State.

According to the plan, the Ministry of Budget and Economic Planning is to work with the Ministry of Trade, Industry and Cooperatives, the Oyo State Investment Promotion Agency and the office of the Accountant-General to implement the Business-Enabling Reforms Action Plan, starting from 2025.

The Council also appreciated the kind gesture of Governor Seyi Makinde through the financial support he gave to Mr. Sola Ajayi, a Senior Cameraman with the Broadcasting Corporation of Oyo State (BCOS) who had spinal cord injury as a result of an accident.

The Governor thanked members of the Executive Council for their focus and cooperation during the outgoing year and said that year 2025 will be more challenging even as he assured that government will remain resolute in achieving its objectives.