Gov. Seyi Makinde of Oyo State, on Wednesday, inuagurated the construction of 360 units of houses at Ajoda New Town Housing Estate in Ibadan.
The project, which is Public Private Partnership in collaboration with Remax Realtors Limited, will cost N2.5 billion.
The housing units consist of 2-bedroom semi-detached, 3-bedroom semi-detached and 3-bedroom detached.
Speaking at the occasion, Makinde said the project was in fulfilment of one of his 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 Public-Private Partnership (PPP) initiatives.
“The government, through the Oyo State Housing Corporation (OYSHC), is providing 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 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 two 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.
“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,’’ Makinde said.
He assured the people of the state that the Ajoda New Town scheme of the state government and other housing schemes under the supervision of OYSHC across the state would be fully revived.
He called on all interested members of the public, who were desirous of buying land in any of the government schemes, to approach the appropriate government agencies for that purpose.
Earlier, the Chairman of the corporation, Chief Bayo Lawal, said OYSHC’s mission was to provide site and services, undertake provision and development of residential, commercial and industrial estates to members of the public has remained the guiding principle of the corporation.
He said that the flagging off of the construction of the estate was another giant step by the Makinde’s administration to ensure that people have access to decent accommodation at affordable prices.
He called on other prospective investors to collaborate with the corporation to make accommodation accessible.
He said that the corporation had adequate land in all the nooks and crannies of the state and called on indigenes of the various communities, where the corporation estates were domiciled, to partner with the corporation for speedy development of the estates.
He also use the opportunity to invite individuals, who were desirous of owning land for either residential, commercial or industrial development, to approach the corporation.
In her welcome address, the Managing Director of Remax Realtors Limited, Mrs Adefunke Adesoji, said the 360 units of houses would be ready in the next nine months.
Adesoji implored the governor to encourage civil/public servants to buy from the houses.
Highlight of the occasion was the turning of the sod by for the commencement of the construction works by the governor.
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