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🇳🇬 Nigeria /Economy & Trade

Osun allocates land to 12 new industries, targets 10,000 jobs

From The Punch · (6m ago) English Positive tone

Summarized and contextualized by DistantNews.

TLDR

  • Osun State has allocated land to 12 new industries in its Living Spring Free Trade Zone, aiming to create over 10,000 direct jobs.
  • The initiative is expected to stimulate ancillary supply chains and follows investment summits that attracted over 150 potential investors.
  • The state government also highlighted ease-of-doing-business reforms and an empowerment program that trained over 200 residents in various vocations.

Osun State is demonstrating a strong commitment to economic revitalization and job creation, as evidenced by the allocation of land to 12 new industries within the Living Spring Free Trade Zone. This strategic move is projected to generate over 10,000 direct employment opportunities, a significant boost that will undoubtedly stimulate crucial ancillary supply chains. The state's proactive approach, which includes reforms aimed at streamlining business processes and attracting investment, is already yielding results, with over 150 investors showing interest in key sectors like agro-processing, ICT, and light manufacturing.

The Osun Industrial Investment Summit 2024 and Osun State Industrial Investment Roundtable 2025 drew over 150 investors into the state who are interested in the agro-processing, agriculture, ICT, Tourism, Creative and light manufacturing sectors.

— Bunmi JenyoThe Commissioner for Commerce and Industry of Osun State highlighted the success of investment summits in attracting potential investors.

Governor Ademola Adeleke's administration is aligning its governance philosophy with practical empowerment initiatives. The recent training program, which equipped over 200 residents with vocational skills in areas such as agro-processing and adire production, exemplifies this commitment. By providing starter packs, the initiative not only offers training but also seed capital, empowering beneficiaries to build sustainable livelihoods. This focus on practical action, rather than mere words, underscores Osun State's dedication to fostering a more prosperous society.

To this end, land has been allocated to not less than 12 new industries in the revitalised Living Spring Free Trade Zone in Ede, which is poised to create over 10,000 direct jobs and stimulate ancillary supply chains.

— Bunmi JenyoThe Commissioner for Commerce and Industry announced the allocation of land to new industries and the expected job creation.

The "Living Spring Free Trade Zone" initiative is more than just land allocation; it represents a vision for a revitalized Osun. The success of the Osun Industrial Investment Summit and Roundtable signals a growing confidence in the state's economic potential. The emphasis on ease-of-doing-business reforms, including digitized business registration and land titling, further solidifies the state's attractiveness to investors. This comprehensive strategy is designed to create a fertile ground for new businesses, leading to substantial job growth and economic diversification.

Ease-of-Doing-Business reforms, including the digitisation of business registration and land titling, have streamlined processes, resulting in over 2,500 new MSMEs registered between 2023 and 2025.

— Bunmi JenyoThe Commissioner detailed the reforms implemented to improve the business environment in Osun State.
DistantNews Editorial

Originally published by The Punch. Summarized and contextualized by our editorial team with added local perspective. Read our editorial standards.

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