Oyo’ll no longer depend on oil, raw materials for economic prosperity – Makinde

…state targets global market for arts, crafts By Adeola Badru The Oyo State Government has declared its determination to move beyond dependence on conventional sources of revenue by harnessing the economic potential of arts, crafts, cultural festivals, and tourism to generate foreign exchange, attract international investments, and create employment opportunities.

The government said it was working to transform Nigeria’s rich cultural heritage into commercially viable products for the global export market, positioning the creative economy as a major driver of economic growth and sustainable development. The initiative, which sought to unlock the enormous economic value of indigenous artistic expressions, traditional knowledge, and cultural assets, will be driven through the Oyo State Business Forum 2026, with the theme “Investment and Export Promotion of Arts and Crafts Business in Oyo State.” The forum is expected to bring together investors, artists, craftsmen, exporters, policymakers, and development partners to explore investment opportunities, strengthen export capacity, and expand the international market for Nigerian arts and crafts.

Speaking at a press briefing to announce the forum, the Commissioner for Culture and Tourism, Dr. Wasiu Olatubosun, said the administration of Governor Seyi Makinde was deliberately repositioning culture beyond its traditional function as a custodian of heritage to become a productive economic sector capable of generating wealth, attracting investments, and contributing meaningfully to national development.

Olatubosun, who spoke at the briefing organized in collaboration with the Oyo State Investment and Public-Private Partnership Agency (OYSIPA) at the state Secretariat, Ibadan, described Nigeria’s cultural wealth as an enormous but largely untapped economic resource that could compete favorably in the international marketplace. He maintained that traditional festivals, indigenous knowledge, artistic expressions, and locally produced crafts possessed considerable commercial value and could become major export commodities if properly researched, documented, developed, and marketed.

According to him, the state government is also repositioning its cultural festivals from routine annual celebrations into internationally competitive tourism and entertainment products capable of attracting foreign visitors, investors, and members of the African diaspora. He identified the recent inscription of the Sango Festival on UNESCO’s Representative List of the Intangible Cultural Heritage of Humanity as a major boost to Oyo State’s international cultural standing and an opportunity to attract greater global attention.

The commissioner explained that the recognition had taken the annual festival in Oyo Town beyond its traditional geographical and cultural boundaries, making it an increasingly attractive destination for international tourists, cultural enthusiasts, and media organizations from Africa, Europe, and the Americas. He added that the Sango Festival had joined the Osun-Osogbo Festival as one of the two festivals in Southwest Nigeria with UNESCO recognition.

Olatubosun also highlighted the growing international appeal of the World Egungun Festival, which was repackaged in 2024 as a tourism and entertainment product to broaden its economic value and attract a wider international audience. He said the festival had recorded remarkable growth in attendance, with increasing participation from outside Oyo State and growing interest from countries with strong historical and cultural connections to Yoruba heritage, particularly Brazil, Cuba, and Trinidad and Tobago.

“When we started in 2024, we recorded between 6,000 and 7,000 attendees. In 2025, attendance grew to over 17,000, while this year we welcomed more than 19,000 visitors, with over 50 percent coming from outside Oyo State,” he said. The commissioner further disclosed that an initial group of 25 foreign visitors interested in traditional initiation rites was expected in the state later this year, describing the development as another opportunity to stimulate economic activities and increase foreign currency inflows.

“They may not be paying for initiation, but they will spend their dollars here. Those resources will circulate within our economy. That is the economic value of culture,” he added. Beyond cultural festivals and tourism, Olatubosun said the government was taking deliberate steps to strengthen the commercial foundations of the creative industry through research, documentation, international partnerships, and improved access to export markets.

He disclosed that the Ministry of Culture and Tourism was collaborating with the Institute of African Studies, University of Ibadan, to document the state’s cultural assets while also engaging the Office of the Special Adviser on the African Continental Free Trade Area (AfCFTA) to facilitate access to international markets for local creative entrepreneurs.

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