Oyo Govt Reaffirms Support for SMEs, Artisans Through Trade Promotion

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.