The Osun state government has entered into a strategic partnership with a Turkish furniture manufacturer to launch production operations within the state, marking a significant milestone in its foreign investment drive.
Speaking in Osogbo on Thursday, October 17, the commissioner for commerce and industry, Bunmi Jenyo, announced the development while unveiling a document outlining the organisation’s profile and the investment prospects to be showcased at the upcoming 2025 Osun Trade Fair.
Jenyo further revealed that a United Kingdom (UK) based company has also initiated talks with the state government toward signing a Memorandum of Understanding (MoU).
He affirmed that governor Ademola Adeleke’s administration remains committed to attracting foreign investors, fostering job creation, and opening new markets for the state’s abundant raw materials.
He also encouraged local entrepreneurs to seize the business opportunities arising from the influx of international investors, assuring them of the government’s continued efforts to sustain a business-friendly environment and implement growth driven policies.
Jenyo said, “There is a company here now; the managing director of the company is here from the UK to sign a MoU with the state government.
“Also, a Turkish company that is into furniture production is coming to Nigeria, and they want to base in Osun.
“The reason for coming to Osun is that most of the materials they were using are being produced in Nigeria, that is why they decided to move their production here.
“We are finalising their MOU, and they have guaranteed us that they will employ nothing less than 500 people in that factory.
“They are going to start before the end of the year. Our efforts to get foreign investors are yielding the expected result.”
Earlier, while presenting the trade fair document themed “Positioning Local Content for Global Market” to the commissioner for commerce and industry, the chairman of the trade fair committee, David Awotipe, explained that the forthcoming event would be open to Nano, Micro, Small, and Medium Enterprises (MSMEs), large scale businesses, financial institutions, educational and research bodies, as well as all local government councils in Osun State.
Awotipe stated that the fair aims to promote the state’s industrial and commercial potential on a global scale, while also showcasing the contributions of commerce and industry to Osun’s economic growth and development.
He added that the exhibition would spotlight locally made products and advance opportunities in agriculture, mining, and tourism for global market access.
The announcement of a Turkish furniture company investing in the state to begin production comes shortly after Osun hosted an industrial investment dinner and roundtable convened by the ministry of commerce and industry.
Represented by the secretary to the state government, Teslim Igbalaye, the governor Ademola Adeleke expressed his resolve to position Osun as a preferred destination for investment in agriculture, manufacturing, tourism, technology, and renewable energy.
“I am deeply committed to building a vibrant and prosperous Osun State. This roundtable demonstrates our shared vision to sustain progress and accelerate development across all sectors,” Adeleke said.
He emphasized that sustainable development relies on effective collaboration between the public and private sectors.
To this end, the state has focused on creating an enabling business environment through improved infrastructure, transparent governance, and investor-friendly policies.
He declared, “Osun is open for business, the government will intensify efforts to harness the state’s abundant natural and human resources for inclusive growth.”
According to him, strategic partnerships and targeted incentives will continue to support small and medium enterprises, promote local content, and empower youth with the skills needed to thrive in a dynamic economy.
He concluded that the state is poised to leverage transformative partnerships to lay a strong foundation for sustainable growth and shared prosperity.
Jenyo, described the summit as a continuation of the successes achieved during last year’s Industrial Investment Summit.
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