The Oyo State House of Assembly has passed into law the executive bill to establish Investment Promotion Agency.
The bill which was sent to the house by the State executive arm of government led by Governor Seyi Makinde was passed into law on Thursday at the plenary in Ibadan.
Speaking on the newly created Investment Promotion Agency, the Oyo State Speaker, Rt. Hon. Adebo Ogundoyin said the law is aimed at giving necessary legislative backing to plans of the state governor to woo investors into the state.
According to him, the law is to initiate, promote and facilitate investments in the state as one of the cardinal plans of the government to make the state the hub for both local and foreign investors.
Ogundoyin said, “as Oyo State 9th assembly, we believe it is not about the number of the bills passed as lawmakers, but about the qualities of the bills, their effectiveness, and direct or indirect positive impacts on our people’s lives.
“Passing into law the executive bill to establish Investment Promotion Agency reaffirmed our commitment as 9th assembly towards making effective investment policies that will boost the Oyo State economy.”