Osun State Governor, Ademola Adeleke has hailed the impressive local content achievements of his administration, emphasising that the initiatives have played a crucial role in transforming the state’s economy and bolstering local businesses.
Speaking through his Deputy, Kola Adewusi, at the 2024 Trade Fair of the Osun State Chamber of Commerce and Industry in Osogbo, Governor Adeleke outlined the state’s significant strides in promoting local content.
The event, themed “Developing Osun Local Content Value Chain for Shared Prosperity”, provided a platform to showcase the state’s economic progress under the Governor’s leadership.
Reviewing the progress made over the past two years, the governor expressed pride in his administration’s unprecedented commitment to fostering local content development.
“Our major infrastructural projects are being handled by local contractors, and we are empowering our indigenous companies to undertake large-scale jobs even beyond the state’s borders,” he stated.
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Highlighting the deepening involvement of local engineers and businesses in key construction projects, Mr Adeleke emphasised the state’s focus on keeping money within the local economy, thereby reducing capital flight.
“By ensuring that funds generated within Osun remain in Osun, we are laying the foundation for a vibrant local economy that contributes to the fight against poverty and underdevelopment,” he said.
The governor further underscored the administration’s dedication to skill development, noting that local workers are being empowered with the necessary skills to take on critical roles in various industries.
“We are building a pool of skilled citizens who will serve as skilled service providers, creating long-term job opportunities for our people,” Mr Adeleke explained.
He said local content policies have also become a cornerstone for job creation, with many state projects now involving direct labour, noting that the approach has led to increased employment for artisans and the unemployed.
Mr Adeleke also pointed to significant improvements in the state’s business environment, including a streamlined process for obtaining Certificates of Occupancy within 45 days and the introduction of a harmonized tax system aimed at reducing the burden of multiple taxation on businesses.
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“Our tax agency is now business-friendly, and we have revived the Osun State Investment Promotion Agency (OSIPA) to foster investment,” he said.
He said to boost industrialisation, the state has revived its Free Trade Zone, which he said is expected to create over one million direct and indirect jobs.
In addition, he said the government is modernizing markets, establishing farm produce aggregation centers, and revitalizing dormant industries to stimulate economic growth.
Governor Adeleke highlighted the success of the recent Industrial Investment Summit, which attracted both local and international investors.
“While we continue to implement our industrial policy, we are also planning a review to incorporate modern innovations and advancements in Artificial Intelligence,” he said.
