The Oyo State Government has announced plans to create a new business district in Ibadan, aiming to establish a commercial corridor that will serve as a hub for economic activity.
The announcement was made by the Commissioner for Lands, Housing and Urban Development, Williams Funmilayo, during a sensitization meeting with stakeholders in the Akinyele area of the city.
The project will be located in the Akinyele Local Government Area, with a total of 3,149 hectares of land designated for development. Of this, 598.613 hectares will be set aside as a resettlement scheme for villages affected by the project. Additionally, 833.853 hectares have been identified as developed areas and will be excluded from acquisition, leaving 1,717.235 hectares specifically for the Ilu-tuntun Business District.
Starting Monday, November 4, 2024, the government will begin the enumeration and valuation of structures in the affected areas to provide clarity on properties within the Ilu-tuntun Business District corridor. Funmilayo urged the organized private sector to collaborate with the state government in fostering economic growth and enhancing the quality of life for residents.
He also encouraged residents of Akinyele to cooperate with officials conducting the enumeration and valuation, emphasizing the importance of community support for the project’s success.
Council chairman Wole Akinleye expressed gratitude to the government for initiating the project, highlighting that residents from nearby villages are optimistic about the potential benefits.
The establishment of this business district is seen as a significant step toward boosting economic development in Oyo State, creating job opportunities, and improving living conditions for the local populace.
