State & Local News
Oyo State Promotes Local Entrepreneurship
March 22, 2026
Oyo State Government, through the GenSpark 2026 Entrepreneurs' Empowerment Summit and Ibadan Business Exhibition held at the Indoor Games Hall, Liberty Stadium in Ibadan, is actively promoting local production and entrepreneurship to stimulate economic growth and job creation. Former PSN Chairman Pharmacist Abiodun Ajibade and other key officials emphasized leveraging local opportunities and foreign investments to reduce youth unemployment and poverty. The event showcased over 2,000 locally made products and provided capacity building, mentorship, and networking to more than 1,200 participants, aligning with government efforts to boost the local economy and support small and medium enterprises.
- Why this matters: Procurement professionals should recognize increased government focus on sourcing and supporting local products and services, which may influence future contract opportunities favoring local suppliers.
- The involvement of agencies like Oyo State Agribusiness Development Agency and SMEDAN indicates potential collaboration and funding avenues for local entrepreneurs and contractors.
- Businesses and contractors can leverage this environment by aligning offerings with local content development and capacity-building initiatives promoted by the state.
- Organizations supporting entrepreneurship and local manufacturing may find partnership or subcontracting opportunities arising from government-backed empowerment programs.
We need to promote our local products, we need to embark on production of goods we are producing locally. We cannot just sit down and expect the change to happen. We need to take advantage of the opportunities.
— Pharmacist Abiodun Ajibade
There are a lot of opportunities in Nigeria which our youths can tap into instead of nursing ambitions to travel abroad. We must take advantage of the opportunities that foreigners are trooping into Nigeria for on a daily basis.
— Abiodun Ajibade
Agencies
Oyo State Government, Oyo State Agribusiness Development Agency, Small and Medium Enterprises Development Agency of Nigeria, National Youth Service Corps
Locations
Sources
- Take advantage of opportunities to boost local economy, ex-Oyo PSN chair charges entrepreneurs, youths โ Tribune Online · Tribune Online · Mar 22
- Ex-PSN boss Ajibade urges youths to tap local opportunities at GenSpark 2026 summit - The Nation Newspaper · The Nation Newspaper · Mar 17