From Our Correspondent
Ibadan, Aug. 27, ’25 (TNZ) The Oyo State Government has entered into an investment partnership with a Singerporian company to establish a $500 million beverages factory.
TheNewsZenith reports that the state government, on Wednesday handed over 500 hectares of land to the company, Euro FMCG Universal Beverages Limited for the project.
The beverage plant situated in Oluyole Free Trade Zone will create 5,000 direct jobs for residents when it becomes operational.
Prof. Musibau Babatunde, Commissioner for Budget and Economic Planning, represented Gov. Seyi Makinde at the handing over of the land.
Babatunde said the project, would include a warehouse, farm processing, and logistics facilities.
He added that the partnership aligned with the state’s four-pillar agenda, prioritising job creation and economic growth.
TheNewsZenith quotes the commissioner as aassuring the company of protection of its investment.
He warned land grabbers to desist from their nefarious activities, threatening severe consequences for causing any trouble in the area.
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“This is another milestone from the administration of Gov. Seyi Makinde to industrialise Oyo State.
”The government is engaging the Public Private Partnership that will attract many opportunities to the state.
“The first pillar is economic expansion, and this is part of what we are trying to do.
”We want to industrialise the state through economy development and partnership with a company like this.
“We are quite confident that government is on top of all the issues.
”The has put machinery in motion to deal decisively with anyone seen trespassing in this area,” TheNewsZenith quotes Babatunde as saying.
The Director of Operations, Euro FMCG Universal Beverages Limited, Rajesh Koleti, thanked the stare government for the collaboration.
Koleti noted the project will inject $500 million into the state’s economy. (TNZ)
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