Osun Govt. Launches New Sustainable Industrial Development Policy

Globally, it is generally acceptable that the only way a nation can grow economically is through Industrialization and development of Sustainable Nano, Micro, Small and Medium Enterprises, therefore, the need for a functioning Industrial Development Policy to drive it cannot be ignored.

Today, the Osun State Government launched the New Sustainable Industrial Development Policy.

Represented by the Deputy Governor, Prince Kola Adewusi, the Governor maintained that the government is not relenting on its drive to industrialize the State as work is ongoing on several initiatives of the State Government which include, Development of Technology Incubation Centre, in collaboration with SMEDAN to nurture Nano, Micro, Small and Medium Enterprises to sustainable levels, Skills Upgrade and Entrepreneurship Development Training Programme to encourage youths to be self reliant, Establishment of Special Economic Zone and Establishment of Special Agro Processing Zone in the State in collaboration with the Federal Government.

He noted, “Today, another milestone is recorded in the annals of our dear State because the State did not have functioning Industrial Policy for twenty-two years; the last Industrial Policy was produced in Year 2001, hence, the major reason why our government made concerted efforts to develop a responsive and functioning Industrial policy so that the State could have a well thought out plan to leverage to fast track Industrialization and Economic Development and which would be implementable to the benefit of Nano, Micro, Small and Medium Enterprises (NMSMEs) and Industries in Osun State. You can therefore appreciate why today’s ceremony is special to me and the good people of Osun.

“Our State is endowed with abundant Agricultural, Forestry, and Solid Mineral Resources which has remained greatly under-utilized. Little efforts have been made in years past towards the exploration, exploitation and processing of these resources with the objectives of adding value to these resources and boost the economy of the State.

“This Industrial Development Policy is a reflection of our administration’s resolve to strengthen the State economy, create wealth, reduce poverty and youth restiveness through revival of moribund industries in the State, Development of Living Spring Free Trade Zone, Establishment of Farm Produce Aggregation Centres with necessary processing facilities as part of implementation process of the policy. The document is equally aimed at stimulating development of all sectors of the economy of Osun State and identify all economic potentials where Osun has comparative advantage that could help the growth of Industries.

The policy document would also create direct and indirect jobs, generate revenue, attract investors from within and outside the country in the Agricultural, Industrial, ICT, Solid Mineral and other sectors of the economy; it would also encourage local content inclusion in value addition at every stage of the value chain.

Speaking further, the governor expresses his appreciation to the Ministry of Commerce, Industry, Cooperatives and Empowerment, the Vice Chancellor, Osun State University Prof. Odunayo Clement Adebooye, Dean, Faculty of Engineering, Prof. Simeon Olawale, members of the Clean Energy and Industrial Research Group of the University and relevant Industrial Stakeholders for their efforts and commitment to achieve success on development of the worthwhile document.

In her own remarks, the Permanent Secretary of the Ministry of Commerce, Industry, Cooperatives and Empowerment, Mrs Kehinde Odediran said It is imperative to note that the Industrial Policy is a strategic effort by the State Government to encourage economic transformation i.e the shift from lower to higher productivity activities between or within sectors. It is the responsibility of the State to rally all available resources, human, business and natural to execute socio-economic development agenda which this administration has taken as priority.