By; BAYO AKAMO, Ibadan
Governor, Seyi Makinde, has approved the award of the Yekinni Adeojo Government Residential Area (GRA) to Messers Allianz West Africa (Nigeria) Limited under a Public-Private Partnership (PPP) scheme.
The Director General of Oyo State Investment and Public-Private Partnership Agency (OYSIPPA), Mr. Tilewa Folami, handed over the Mandate Letter of Grant to the Managing Director/CEO of Allianz-West Africa Offshore Limited, Engr. Adeyinka Owodunni, in Ibadan on Tuesday.
According to the mandate letter, Allianz West Africa Ltd. will develop the infrastructural facilities at the 50-hectare Yekinni Adeojo GRA, Oluyole, Ibadan, using private funds and also managing it on behalf of future residents and Oyo State government for about 25 years.
This award to Allianz West Africa is premised on the successful performance and timely completion of the Engr. Lere Adigun GRA (Basorun, Ibadan) by Allianz West Africa. The Engr. Lere Adigun GRA has become a highly sought after residential enclave for the upper middle class in Ibadan.
According to Engr. Owodunni, the Yekinni Adeojo GRA would be a residential development that is designed as part of a master plan community to activate a satellite city on the South-East quadrant of the Ibadan Circular Road (ICR), where it intersects the newly completed Lagos – Ibadan expressway. The ICR is currently under construction.
“This estate is positioned to allow its residents easy access to multiple cities (Lagos, Ife, Ijebu, etc.) through the Ibadan circular road butterfly interchanges on the Lagos – Ibadan expressway”, he said.
Engr Owodunni added, “With the ongoing construction of the 110-kilometre Ibadan Circular Road and the completion of the Lagos – Ibadan expressway, a massive population influx is expected in Ibadan this decade”.
“An additional five million people is projected to migrate to Ibadan due to these infrastructural developments and the satellite cities that are precipitated. The Yekinni Adeojo GRA is a visionary and complimentary last-mile infrastructure that will organically fit into the Oyo State 2030 master plan,” Owodunni said.
Allianz-West Africa will be providing infrastructural facilities, such as major and minor roads with access slabs to all plots, drainages and stream channel conduits, electrical substations and reticulation to all plots, water plant and reticulation to common areas, security – perimeter fencing, 3-barrier gate system, beautification effects – green areas and aesthetic control and administration of deeds of restrictions, among others.
It will also have developmental control responsibilities, as part of its PPP agreement with the Oyo State Government.