Oyo State Government to inject N5bn into economy

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Oyo State Governor, Seyi Makinde

Oyo State government has signed a Memorandum of Understanding (MoU) with four private investors toward the development of Real Estates in the state through concessional agreement.

The concessional agreement would see to the injection of N5 billion into the state’s economy.

This was disclosed in a statement issued by the state Commissioner for Information, Culture and Tourism, Dr Wasiu Olatunbosun in Ibadan.

According to the statement, the signing was done by Segun Ogunwuyi, the Director-General, Oyo State Investment and Public Private Partnership Agency and four different investors

“The projects include the design, construction, commissioning and management of Bodija Recreation Centre by Refcon Ltd and construction of about 360 units of medium and low-cost housing estate by RemaxRealtors.

Others are the development of eleven units of premium 5-bedroom units by Wood et al Ltd and the development of 45 units of premium 5-bedroom townhouse by Project Scope Ltd,” it stated.

In his remark after the signing, Ogunwuyi said the concessional agreement would see to the injection of N5 billion into the state’s economy, saying the effect would be felt in youth’s employment as well as improved commercial atmosphere.

He posited that the state government was doing everything possible to turn around the fortunes of the state positively.

“The projects we just signed its agreements on, include construction of 360 units of medium and low-cost housing units on 13 hecters at Ajoda New Town and development of eleven units of premium 5 bedroom terrace houses with all necessary infrastructure on a vacant land at Oba Awosika street at Bodija.

It also includes, the development of 45 units of premium 5 bedroom townhouse with necessary infrastructure on a vacant land at Oba Akinyele street, Bodija, Ibadan.

The last one will involve the design, construction, commissioning and management of Bodija Recreation Center; this will be turned into a self-sustaining, multipurpose sports and recreation centre.

And it will become the foremost recreation centre for the use of residents of Ibadan and visitors from all over the country,” he stated.

The Chairman, Oyo State Housing Corporation, Bayo Lawal and other representatives of the State government and private organisations witnessed the signing of the MoU.