The Oyo State Government has announced plans to establish a large-scale business district in Ibadan, aimed at transforming the city into a vibrant commercial center.
The ambitious project will span thousands of hectares in Akinyele Local Government Area, where a commercial corridor is set to become a focal point for economic activities and private sector growth.
The PUNCH reported that the Commissioner for Lands, Housing and Urban Development, Williams Funmilayo, shared details about the project in a statement released by the Commissioner for Information and Orientation, Dotun Oyelade, during a community engagement session held with local stakeholders in Akinyele.
“The project will be situated in the Akinyele Local Government Area of the state,” Funmilayo confirmed, emphasizing the initiative’s potential to drive local and regional economic growth.
According to the commissioner, a significant portion of land has already been allocated to the development.
Of the total 3,149 hectares designated for the business district, 598.613 hectares are being set aside as a resettlement area to accommodate certain impacted communities.
In addition, 833.853 hectares have been identified as already developed and will thus be excluded from the main acquisition area.
The remaining 1,717.235 hectares will serve as the core of the new commercial hub, now formally named the Ilu-tuntun Business District.
As a preparatory step, Funmilayo noted that officials would begin the enumeration and valuation process on Monday, 4 November 2024.
This exercise aims to assess structures and properties within the designated area, offering a more comprehensive understanding of the extent of the project and its impact.
Funmilayo encouraged the private sector to join the government’s efforts, highlighting the potential for partnerships to “grow the economy and improve residents’ living conditions.”
He also called on the local community in Akinyele to support officials during the property assessment, scheduled to begin on 4 November 2024.
Akinyele Local Government Council Chairman, Wole Akinleye, expressed gratitude for the government’s decision to bring the project to the area.
He mentioned that residents from remote villages in Akinyele appreciate the steps being taken and are hopeful about the potential benefits the development could bring to their communities.
