Home › General News       September 23, 2011


The Minister of Trade and Investment, Mr. Olusegun Aganga, is due in Ibadan today for the signing of a Memorandum of Understanding (MoU) with the Oyo State Government on the take off of Okerete International Border Market.

The project, which is one of several others by the state government, aimed at jump-starting the economy of the state, is capable of creating over one million jobs, when completed.

Aside the Minister of Trade, also expected at the signing of the MoU is the DFID and the British High Commissioner who are playing a huge role in the task of making the trans-border market a reality.

The Okerete International Border Market is a pilot scheme of the Federal Government's six border markets and Oyo State was chosen chiefly because of the state government's extension of a hand of fellowship to the ministry for partnership.

The signing of the MoU is consequent upon the visit of Governor Abiola Ajimobi on August 16, 2011 to the minister in Abuja where he solicited the support of the Federal Government to make the Oluyole Free Trade Zone and the Okerete International Border Market near Saki realities. The governor had said that his vision was to make the two free trade zones investors' destinations of choice, so that more jobs would be created and growth brought to the state.

He had expressed the hope that the two projects would attract development quickly to their respective locations and increase the centre-points of development in the state. The minister, at the occasion, had also said that a feasibility study agreement would be signed with a foreign company on the Border Market in September.

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