Osun State Unveils Central City Project

Osun State Governor, Adegboyega Oyetola, has unveiled a multi-billion naira investment, industrial and real estate development project tagged, ‘Central City Project’.

Speaking at the event, where the project was officially unveiled, at the Centre for Black Culture and International Understanding, Osogbo, Oyetola said the main objective of the initiative was to project Osun as a strategic place for investment in different sectors.

Represented by the Commissioner for Commerce and Industry, Dr Bode Olaonipekun, the governor explained that the central city project would be driven by Public Private Partnership.

Earlier in his welcome address, the Director General, Osun New Towns Development Authority, Muyiwa Ige, said the project would accommodate investors in small and medium scale, as well as, development agencies.

“Central City Project was initiated and proposed by one of our development partners, Akbeeb Investment Limited. The project is expected to be delivered within a period of five years with massive infrastructural development solely funded by the private sector on a Public Private Partnership basis.

“The Central City Project is divided into three sections. The first section is the industrial hub which will attract investors through incentives which are designed to solve the problem of industrialization in Nigeria. Some of those incentives are uninterrupted power supply, power subsidy, tax incentives, partnership for sourcing raw materials and off taking industrial product.”

“The project site has rail station which makes movement of goods and passengers easy. Industrial infrastructure like road, drainage and water shall be provided. The second and third sections are the farm settlement and residential development respectively,” Ige added.