The Oyo State Government has reiterated the importance of creating greater opportunities for traders, artisans, entrepreneurs and Small and Medium-sized Enterprises (SMEs) through skills development, business networking, enterprise support and trade promotion.

The Commissioner for Investment, Trade, Cooperatives and Industry, Professor Salihu Adelabu, made this known at the Ibadan edition of the Nigeria Business Summit 2026 Regional Tour, organised by Stanbic IBTC Bank under the theme, “Empowering Nigerian Enterprises for Growth,” held at the Jogor Event Centre, Ibadan.

Professor Salihu Adelabu said the Oyo State Government has continued to implement initiatives aimed at strengthening the capacity of artisans, traders, entrepreneurs and SMEs to improve their productivity and competitiveness.

According to the Commissioner, the Ministry has been working on capacity-building programmes for artisans and entrepreneurs through skills upgrading, while also encouraging access to funding opportunities, promoting import and export activities and exposing businesses to networking opportunities that can enhance enterprise growth.

Professor Adelabu commended Stanbic IBTC Bank for bringing the Nigeria Business Summit Regional Tour to Ibadan and for providing a platform through which business owners can gain practical knowledge, build strategic business relationships and explore opportunities that will contribute to the growth of their enterprises.

He also acknowledged the commitment of the Executive Governor of Oyo State, Engineer Seyi Makinde, to programmes that support economic growth through agriculture, agribusiness and infrastructure development.

The Commissioner noted that the State Government is implementing the SAfER (Sustainable Action for Economic Recovery) initiative to cushion the effects of economic challenges through interventions that support businesses, farmers and other vulnerable groups, while also promoting a more conducive environment for enterprise growth.

He further stated that the Government’s agricultural support initiatives include the tractorisation programme, through which eligible farmers pay part of the cost of land preparation while the State Government subsidises the balance, in addition to the distribution of fertilisers to encourage agricultural production. He added that ongoing investments in road infrastructure also contribute to improving the business environment across the State.

Earlier, the Head, Enterprise Banking, Stanbic IBTC Bank, Mrs. Jumoke Bello, said the Nigeria Business Summit was created to support Nigerian enterprises by providing business owners with practical knowledge, strategic networking opportunities and business advisory services.

She explained that the Bank is committed to supporting SMEs by connecting entrepreneurs with the right networks, facilitating access to business opportunities and exposing participants to trade and export prospects capable of adding value to their enterprises.

Mrs. Bello stated that Stanbic IBTC’s collaboration with the Oyo State Ministry of Investment, Trade, Cooperatives and Industry for the Ibadan summit reflects the Bank’s desire to work with relevant stakeholders in supporting the growth of traders, artisans and SMEs.

She expressed confidence that participants would benefit from the knowledge shared during the summit, particularly in the areas of business growth, enterprise development, networking and access to emerging opportunities within and beyond Nigeria.

Also speaking, the Babaloja General of Oyo State, Alhaji Abass Yekini Oladapo, commended Stanbic IBTC Bank for organising a programme dedicated to the growth of indigenous businesses and appreciated the Oyo State Government for its continued efforts toward creating an enabling environment for commerce and enterprise.

He urged traders, market leaders and artisans across the State to take full advantage of the knowledge, networking sessions and business opportunities provided through the summit, stressing that continuous learning, innovation and collaboration remain essential for building stronger and more competitive businesses.

The Nigeria Business Summit is an initiative of Stanbic IBTC Bank designed to support Nigerian enterprises through knowledge sharing, networking, business advisory services and enterprise development. Following the inaugural edition held in Lagos, the 2026 Regional Tour is being taken to four commercial cities across the country—Onitsha, Aba, Ibadan and Kano—to bring enterprise development opportunities closer to business owners within their local markets.

The Ministry of Investment, Trade, Cooperatives and Industry (MITC&I), Oyo State Government, wishes to address recent public discussions and a misleading publication with the headline “Steer Clear of Traders Affairs, Groups Tell Oyo Government, Trade Commissioner”, which has created a distorted impression regarding the role of Government in the affairs of market leadership structures and the emergence, inauguration, and ongoing engagement processes of the Babaloja-General-in-Council in Oyo State.

For the avoidance of doubt, the Oyo State Government has at all times acted strictly within its statutory mandate, guided by extant laws, judicial pronouncements, and established administrative procedures governing the administration of market associations in the State, particularly under the Oyo State Market Leaders’ Council Law, 2020.
The Ministry’s involvement has remained purely administrative, facilitative, and supervisory in nature, aimed at ensuring order, inclusiveness, and industrial harmony within the trading community across the State.

It is important to recall that the leadership issue relating to the office of the Babaloja-General stemmed from a subsisting judgment of the Oyo State High Court delivered on 17th June, 2022 by Hon. Justice K.B. Olawoyin, which nullified the earlier disputed arrangement and clearly affirmed that the authority for selection of a Babaloja-General lies exclusively with traders through the duly recognized Market Leaders’ Council.

Following the judgment, the Ministry formally sought legal clarification from the Ministry of Justice, which confirmed that the Market Leaders’ Council is empowered to initiate a fresh, lawful, transparent, and inclusive process for the emergence of market leadership, and that no stakeholder was expressly disqualified from participating in such a process. The legal advice further reinforced the necessity for strict adherence to due process and established judicial guidance.

In compliance with this legal framework, the Market Leaders’ Council reconvened and undertook its internal processes, culminating in a formal selection exercise in which eight (8) out of twelve (12) members voted in favour of Alhaji (Chief) Yekini Abass Oladapo as Babaloja-General of Oyo State. This outcome was duly conveyed through appropriate government channels and subsequently received the approval of His Excellency, the Executive Governor of Oyo State, Engr. Seyi Makinde, FNSE, leading to formal ratification and issuance of a Certificate of Recognition in November 2022.

It is equally pertinent to place on record that the entire process was anchored on extensive stakeholder engagement across the 33 Local Government Areas of the State. Following the dissolution of the previous leadership structure, Government received a formal request from the Office of the Babaloja-General seeking approval to embark on a statewide sensitization and consultation tour across all 33 Local Government Areas of Oyo State. The request was aimed at engaging market stakeholders, sensitizing traders on government economic initiatives, and gathering feedback to strengthen coordination within the market system.

The Ministry duly granted approval for the tour, with designated government officials assigned to accompany and observe the process in order to ensure transparency, professionalism, and adherence to due process. The engagement exercise further strengthened consultation, unity, and communication among market stakeholders across the State.

Subsequent administrative engagements, including a structured request dated 28th November, 2025 for continuation of statewide market consultations, were also duly approved by the Ministry. Government officials were assigned to participate, while clear directives were issued for professional conduct and submission of comprehensive reports. These continued engagements underscore the consistency of Government’s oversight role and its commitment to orderly market administration.

The Ministry categorically states that at no point did the Government impose any candidate or interfere with the internal decision-making processes of traders’ representatives. The role of Government has remained strictly administrative, facilitative, and anchored on respect for judicial authority, statutory provisions, and due process.

Accordingly, any narrative suggesting undue interference by the State Government or the Honourable Commissioner does not reflect the true position of facts, the legal determinations of the Court, or the structured administrative processes that guided the entire sequence of events from 2022 through subsequent engagements.

The Oyo State Government remains firmly committed to sustaining peace, stability, and orderly governance within all market associations, while continuing to support lawful institutions within the informal sector in line with judicial pronouncements, extant laws, and the public interest.

Signed:
Mr. Olajide Mamud Okesade
Permanent Secretary
Ministry of Investment, Trade, Cooperatives and Industry
Oyo State Government

The Oyo State Government has dispelled rumours regarding the closure of the Bola Ige International Business Complex, Gbagi, Ibadan on Monday, saying the rumour is unfounded.

This was contained in a statement issued and made available to the media on Sunday in Ibadan by the Commissioner for Investment, Trade, Cooperatives, and Industry, Hon. Adeniyi Adebisi.