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In line with the state’s Sustainable Action for Economic Recovery (SAfER), Governor Seyi Makinde of Oyo State has taken a significant step toward enhancing the state’s economic landscape by issuing an executive order to establish a Trade Grievance Redress Mechanism.
This is part of efforts by the state government to access a grant by the State Action on Business Enabling Reforms (SABER) Program, a global body committed to local economic development.
The Governor has equally set up a 7-man implementation committee chaired by the Commissioner for Trade, Investment, Industry and Cooperative, Otunba Ademola Oyo with a mandate to come up with a strategic implementation plan in line with global best practice which covers traders harassement, unauthorized payments and illegal fees, as well as resolution of power tussle between trade groups among others.
Members of the implementation committee are drawn from relevant MDAs which include commissioners for Environment and Natural Resources, Budget and Planning, Information and Orientation, the Special Adviser to the Governor on Budget and Economic Planning, and Oyo state Agribusiness Development Agency (OYSADA).
The committee held its inaugural meeting today May 21, at the Office of the Commissioner for Trade where it deliberated on its core objectives and mandate which include providing fairs and accessible government services, timely and effective conflict resolutions to enable citizens build trust and confidence in government among others.
This move according to Otunba Ojo is part of a broader strategy to qualify Oyo state to access a global grant by the State Action on Business Enabling Reforms (SABER) Program.
The executive order by the governor, signed on Monday, aims to create a streamlined process for addressing and resolving trade-related disputes within the state and remove unnecessary bottlenecks in tax administration system.
The Commissioner for Trade said: “This mechanism is expected to bolster investor confidence and encourage both local and international businesses to engage more robustly with Oyo’s economy.
“The establishment of a Trade Grievance Redress Mechanism is a critical step towards ensuring that our business environment is conducive for growth and innovation.
“This will not only protect the interests of traders and investors but also stimulate economic activities that align with our vision for sustainable development in line with global best practice.
“The SABER grant, funded by international development partners, is designed to support states that demonstrate a commitment to economic reforms and agricultural resilience.
“Oyo’s eligibility for the grant hinges on our ability to set up this implementation mechanism in line with their requirement, implement policies that promote transparency, efficiency, and fairness in trade practices.
According to Otunba Ojo, the new grievance mechanism will involve a multi-tiered approach, including the establishment of a dedicated complaints office, a fast-track mediation process, and an independent review panel.”
He explained further that these components are aimed at ensuring that trade disputes are resolved promptly and fairly in order to reduce the risk of prolonged business disruptions.
“In addition to improving the business environment, the Trade Grievance Redress Mechanism is expected to enhance Oyo’s competitiveness in the agricultural sector.
“By strategically addressing trade barriers that engenders a supportive ecosystem for agribusiness, Oyo state now aims to increase productivity and export potential, thereby, contributing to a broader economic resilience within the state.
“His Excellency, Governor Seyi Makinde has been very proactive in pursuing various reforms particularly under the Sustainable Action for Economic Recovery (SAfER) aimed at economic development.
“The executive order for the Trade Grievance Redress Mechanism is the latest in a series of measures designed to position Oyo as a leader in agricultural innovation and economic sustainability that will give us a leverage to access the SABER grant.
” And as Oyo state prepares to access the SABER grant, the successful implementation of the Trade Grievance Redress Mechanism will be a very crucial indicator of our commitment to fostering a business-friendly environment.
“The 7-man committee has been mandated to come up with a strategic implementation plan for us to work with, and we will reconvene after one week.” Otunba Ojo explained.
