Investors Inject 5 Billion Naira Into Oyo’s Real Estate For Post-Covid Economic Recovery

Oyo State government has signed a memorandum of understanding (MoU) with four private investors in Nigeria, towards the development of real estate in the State through concessional agreement.

The MoU signing which was done on Tuesday at Ibadan by the Director-General, Oyo State Investment and Public Private Partnership Agency, Hon Segun Ogunwuyi and four investors would see to the injection of #5billion into the real estate sector of the State’s economy and will ameliorate the effect of the Covid-19 pandemic, among other steps evolved by the administration of Governor Seyi Makinde.

The projects include the design, construction, commissioning and management of Bodija Recreation Center by Refcon Ltd and construction of about 360 units of medium and low-cost housing estate by Remax Realtors.

Others are the development of eleven units of premium 5-bedroom units by Wood et al Ltd and the development of forty-five units of premium 5-bedroom townhouse by Project Scope Ltd.

In his address at the event, Ogunwuyi said the concessional agreement would see to the injection of #5billion naira into the State’s economy and the effects would be felt in youths employment and improved commercial atmosphere.

He said the present administration in Oyo State, under the leadership of Engr. Seyi Makinde was doing everything possible to turn around the fortune of the State for better.