*flags off N2.5 billion 360 Housing units at Ajoda, Ibadan
By; BAYO AKAMO, Ibadan
Governor Seyi Makinde on Wednesday, flagged off the construction of N2.5billion 360 Housing Units at the Ajoda New Town Estate on the New Ibadan-Ife Expressway, in Ibadan.
Speaking at the flag off of the estate, the governor declared that it will enhance affordable housing to all and sundry in the state and that the strategic location of the new estate will ensure that the investors make quick returns on their investments.
Governor Makinde emphasized that there will be no going back in the determination of his administration to bridge the gap in the housing sector in Oyo State, saying, “the New Ajoda Housing Project is jointly sponsored by the Oyo State Government and Remax Realtors Limited”.
He said while the state government provided 13 hectares of land for the scheme, the developer is expected to solely finance the project, adding that ” the flagging off of the Ajoda Housing Estate is a fulfilment” of one of his campaign promises.
“We are here today to flag off a project, which is in fulfilment of one of my campaign promises. Those who have taken time to study our Roadmap for Accelerated Development in Oyo State, 2019-2023, would have come across our promise to facilitate private sector-driven housing delivery through variants of public-private partnership (PPP) initiatives. And so today, we are flagging off the construction of three hundred and sixty (360) housing units here in Egbeda Local Government Area, Ibadan Zone”, he said.
The governor stressed that the project “will consist of 2-bedroom semi-detached houses; 3-bedroom semi-detached houses and 3-bedroom detached houses and that the project will be replicated in other parts of the state so that many residents of the state can benefit from such projects.
Speaking further, the governor hinted that investors have begun to repose confidence in the state and are willing to do business in Oyo State because of the way the government is now being run by the present administration.
Governor Makinde added, “as I said earlier, this is a PPP initiative. We are working with Remax Realtors Limited. To make this project a reality, the Oyo State Government through the Oyo State Housing Corporation is providing thirteen (13) hectares of land for the scheme, while the developer will solely finance the entire project.
“The project will cost N2.5billion, and upon completion, the developers will recoup their finances when the houses are sold. We have seen the wisdom of getting contractors or developers to commit to projects by using their own monies to carry them out.Some people may wonder why we are starting off in the Ibadan Zone? Well, the need for an affordable housing scheme in Oyo State is clearly evident”.
According to Governor Makinde, “statistics show that the population of the capital city has been growing at over 2 per cent since 2018 with a peak of over 2.5 per cent in 2020. So, half of the population of Oyo State live in Ibadan Zone”, adding, “but that the project is starting in Ibadan Zone does not mean that it will end here. Our plan is to replicate these housing units in other parts of Oyo State in the shortest possible time.”
He however urged members of the public who are interested in buying landed properties in Oyo State to patronize Oyo State Housing Corporation, adding that his administration will continue to operate an open-door policy”.ENDS.