Oyo Moves Beyond Oil, Targets Global Arts Market

Oyo State Governor, Seyi Makinde, has announced plans to reduce the state’s dependence on conventional sources of revenue by investing in arts, crafts, cultural festivals and tourism to attract foreign investments, generate foreign exchange and create jobs.

The state government said it was working to turn its cultural heritage into products that could compete in the international market, with the creative industry expected to become a major source of economic growth and sustainable development.

The initiative will be driven through the Oyo State Business Forum 2026, which will focus on investment and export promotion in the state’s arts and crafts industry.

The forum is expected to bring together investors, artists, artisans, exporters, government officials and development partners to discuss ways of expanding the market for Nigerian creative products and attracting investments into the sector.

Speaking during a press briefing organised in collaboration with the Oyo State Investment and Public-Private Partnership Agency (OYSIPA) at the state Secretariat in Ibadan, the Commissioner for Culture and Tourism, Dr Wasiu Olatubosun, said the Makinde administration was working to make culture an important part of the state’s economy.

He explained that culture should not only serve as a means of preserving history and traditions but should also create wealth, provide jobs and attract investments.

Olatubosun described Nigeria’s cultural heritage as a valuable economic resource that had not been fully explored, adding that traditional festivals, indigenous knowledge, artworks and locally produced crafts could generate revenue if properly developed and promoted.

He said the government was also working to turn cultural festivals into international tourism and entertainment events that would attract visitors, investors and members of the African diaspora.

The commissioner identified the recognition of the Sango Festival by the United Nations Educational, Scientific and Cultural Organisation (UNESCO) as an opportunity to improve Oyo State’s global image and attract more international visitors.