Steady Opening Of Estates Shows Investor Confidence In Oyo State Economy

Steady Opening Of Estates Shows Investor Confidence In Oyo State Economy— Makinde

Reported by Ayooluwa Afolabi

Governor Seyi Makinde of Oyo, on Wednesday, addressed queries that his administration continued to superintend the conversion of various existing sites and landed properties into housing estates, saying the development signals that investors had growing confidence in the state economy.

According to Nigerian Tribune, Gov Makinde stated this at the stakeholders’ consultative meeting on the 2025 budget and unveiling of the State Development Documents, held at the International Conference Centre, University of Ibadan.

Speaking, he said the estates were not being built by government funds but were investments from people in the private sector.

Makinde said his administration toed the line of embracing private sector-led initiatives in development plans because of the belief that they were more sustainable in the long run.

Makinde said the state economy was better off with the investment of millions of naira by the private sector into building the estates.

Makinde said the state feels justified in allowing more private investments into the state as he daily received applications from people keen on doing business with the state.

This, he said, also showed that the state’s economic landscape was expanding.

He said: “You will agree with me that the economic landscape has changed drastically in the last five years. Three days ago, I addressed protesters who came to the Secretariat in protest. They said they want the Circular Road but don’t want the corridor.

“We listened to them. I watched the clips of the protest. I saw some people bring them water as well as a public address system; they also had food. I knew some people must be sponsoring this.

“There were genuine people concerned about their buildings, and what would happen to them but that protest was sponsored mostly by land grabbers because they could see the potential, they could see what is happening in terms of the economic landscape in Oyo State and they are trying to position themselves to have that advantage in case we get to where the Circular Road becomes a reality.

“Some people also said, at the rate that Seyi is going, he may turn even the government secretariat into an estate because he has turned BCOS into an estate; turned Agodi Gardens into an estate; turned Trans Amusement Park into an estate.

“Well, it’s all a sign that certain things are happening because those estates are not being built by government money. They are being built by private resources coming into our economy. That would happen if private people had confidence in the state economy.

“Investors are cowards; if they see where they will lose their money, they will pack everything and leave that place. But for Oyo State, they are coming and every day, I receive letters and applications from people wanting to do business with Oyo State.

“We know that private sector-led initiatives are generally more sustainable in the long run.

“If you go back and check when we started Lere Adigun GRA, people said what are we trying to do here, some people dragged us but we wanted to try something new. But we brought something transparent. And for each property erected there, is injecting about N100million into the economy. You have artisans that will benefit from that.”

He added that the state looked at working with the private sector to drive more inclusive agribusiness programs and youth training.

While asking for inputs from the general public of Oyo State into the 2025 budget, Makinde said the state targeted 90 percent budget performance by the end of this year.

Speaking further, the Oyo State Governor said the state targeted completion of the 32 kilometers of ongoing Senator Rashidi Ladoja Circular Road, Ibadan in the next year.

Makinde boasted that the circular road would be the first freeway in Nigeria upon completion.

The event saw stakeholders from different sectors ask the state government to give more attention to working on feeder roads, renovation of school infrastructure, ensuring drug availability in Primary Health Centers (PHCs), fencing schools, providing silos, fixing water infrastructure, and engaging more health workers.

Other demands were calls for the recruitment of more Amotekun personnel specially assigned to safeguard farms, increased access to loans, grants for women and children, establishment and equipment of vocational training centers, provision of seedlings, inputs for farmers, renovation of schools for the disabled, ridding the state of street nuisance.

Among stakeholders who made the demands were representatives of Civil Societies Organizations (CSOs), traditional rulers, Community Development Councils (CDCs), women and children, women in business and tourism, youths, persons living with disabilities, farmers’ association, Nigeria Medical Association (NMA), labour centers and students.