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The Osun State Government says it will be offering its airport under construction to private investors to complete, operate and transfer to the state.
Governor of the state, Adegboyega Oyetola, said this in Lagos on Thursday while briefing journalists on the state’s economic summit slated for November 19 – 21.
Oyetola regretted that the Federal Government had not been forthcoming in committing funds to the projects as it was conceived as a joint venture.
He added that the state had decided not to commit more funds to the project but to hand it over to private investors who would build, operate and transfer the facility.
The governor said the summit would pay attention to the solid minerals sector because of the state’s huge endowments especially in gold.
He also disclosed that the state had incorporated a Special Purpose Vehicle with which it had acquired some mineral titles in line with the encouragement of the Federal Ministry of Mines and Steel Development.
Oyetola said his administration was in a hurry to develop the state and was in search of investors who would pool capital to grow the opportunities and wealth available in the state.
Speaking at the Facts-Behind-the-State-Economy at the Nigerian Stock Exchange, Oyetola said the state was sitting on a lot of mineral resources and potential that needed to be harnessed.
The Commissioner for Economic Planning and Budget, Osun State, Dr Olalekan Yunusa, said the state government aimed to diversify the economy by raising revenue from the capital market as decline in oil revenue had serious implications for sub-national governments.
Yunusa stated that since Lagos State was congested, Osun State was working hard to open up another means and place of investment for people by developing its infrastructure.
He said the state’s IGR grew to N10.2bn in the first half of 2019, compared to the N10.4bn recorded in the whole of 2018.
According to him, the growing IGR speaks to the opportunities in the state that investors could tap into.
He said, “Osun State participated in the Nigerian Investment Certificate Programme for States between 2015 and 2017 and was certified to be well qualified to help foreign and local investors.
“Our state development plan focuses on economic, infrastructural and human capital development, as well as environmental sustainability.
“It is our belief that investors would come to the state and help us grow to achieve our dreams. This would be a win-win situation as they would also generate profit.”
The Chief Executive Officer, NSE, Mr Oscar Onyema, said the exchange would partner the state and its agencies to achieve the benefits of privatisation of its state-owned enterprises and other initiatives of both entities across various sectors.
