Osun State Governor Ademola Adeleke has explained how his administration revived the state’s economy from 2022 to date, saying increased infrastructure investment has boosted business activity and expanded key sectors.
In a statement issued by the governor’s spokesperson, Olawale Rasheed, Adeleke made the remarks on Tuesday when he addressed a delegation of the Association of Real Estate Managers and Consultants at the Government House.
The governor said the state has committed several billion naira to the rehabilitation of roads, schools, health centres and state utilities to strengthen Osun’s economy and improve its Gross Domestic Product (GDP).
He added that the administration’s infrastructure growth agenda is driving economic changes, particularly in the real estate sector, through a plan focused on road networks, urban renewal and a local content policy.
Adeleke said that from 2023 to date, his government has continued to invest billions of naira in upgrading infrastructure, creating new economic corridors and reducing traffic congestion in major cities.
He further claimed that the administration ended capital flight in Osun governance and reduced the state’s infrastructure deficit by over 50 per cent from 2022 to date, stating that such investments have increased property values and improved connectivity.
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He said widening road networks in cities such as Osogbo, Ede, Iwo, Ilesa and Ile-Ife is pushing development into new areas and opening opportunities for residential and commercial real estate.
The governor also highlighted what he described as improvements in land administration, including the implementation of a 45-day window for processing Certificates of Occupancy, saying the reform helps to speed up land transactions and secure investments.
Adeleke stated that the state is working to attract global investors and create demand for both residential and commercial properties through its One-Stop Investment Shop.
He also said improvements in Internally Generated Revenue (IGR) have given the state greater capacity to sustain long-term infrastructure commitments.
The governor said the administration is addressing rapid urban pressure in Osogbo by expanding development to adjacent towns and cities, noting a growth rate of 3.15 per cent.
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He added that infrastructure development is expected to position Osun as a tourism and economic hub in the South West and to jump-start the state’s agro-industrialisation plan, while investment continues in education and healthcare facilities.
Earlier, Mr Abiodun Olowoporoku, President of AREMAC, commended Adeleke for his commitment to the growth of the real sector, praising in particular the signing into law of the real estate regulatory bill, which he described as a major landmark for the state’s real estate sector.