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 housing units here in Egbeda Local Government Area, Ibadan Zone. Made up of:
2-bedroom semi-detached houses;
3-bedroom semi-detached houses and
3-bedroom detached houses.
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 N2.5 Billion, 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 Ibadan Zone? Well, the need for an affordable housing scheme in Oyo State is clearly evident. Statistics show that the population of the capital city has been growing at over 2% since 2018 with a peak of over 2.5% in 2020. So, half of the population of Oyo State live in Ibadan Zone.
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.
People who live in more developed economies understand the importance of well-thought-out housing schemes to the overall well-being and economy of the state. Here in Oyo State, we know that people are more equipped to achieve financial success when they have housing sorted. When families have proper housing, everyone in the community benefits, and it even contributes to reducing the cost of governance.
Let me use this opportunity to state that as an extension of our campaign promises, the Ajoda New Town scheme of the Oyo State Government will be fully revived, as will all other housing schemes under the supervision of the Oyo State Housing Corporation across the state.
So, let me call on all interested members of the public who are desirous of buying land in any of the government schemes to approach the appropriate government agencies for that purpose. We run an open-door policy, and we will be happy to receive you and talk collaborations with you.
Permit me at this juncture, to flag-off the construction of these three hundred and sixty (360) Housing Units jointly sponsored by the Oyo State Government and Remax Realtors Limited to the glory of God and benefit of the residents of Oyo State.