By Oluseye Ojo
In a bid to bridge the housing deficit gap in Nigeria, the Oyo State Government has attracted a whopping N35 billion in investments in the real estate sector within the past five years.
Available documents show that the country currently has a housing deficit of approximately 28 million units. The documents further state that Nigeria needs 700,000 new homes annually to bridge this gap.
The Chairman of the Oyo State Housing Corporation, Ademola Omotosho, speaking at the flag-off of the Blue Sapphire District “SmartCity” Project in Ibadan, the state capital, under the leadership of Governor Seyi Makinde, affirmed that the state is doing its best to fill the housing gap in the country.
Top government officials from the state, critical stakeholders in real estate, as well as developers and realtors, including Tinath Realities, Asimais Company Limited, traditional rulers, and the President-General of the Central Council of Ibadan Indigenes (CCII), Chief Ajeniyi Ajewole, were present at the programme, which took place at Ikija, along the Lagos-Ibadan Expressway, about 10 kilometres from Ibadan City.
According to Omotosho, “The state is doing its best to fill the housing deficit. This is another landmark event. This will not only add colour and beauty to Oyo State, but will also add economic value. This project will provide job opportunities for our people and it will surely open up more opportunities.”
The Chairman of Oluyole Local Government Area, Akeem Olatunji, who flagged off the project, stated that the project exemplified the progressive vision of Governor Makinde for the state.
“The Smart City, when completed, is expected to become a hub for innovation and sustainability, offering immense opportunities for investors. The project’s focus on renewable energy, urban greenery, and eco-friendly design reinforces the commitment of the present administration in Oluyole Local Government and Oyo State to creating a sustainable future for our people.”
Commissioner for Trade and Investment in the state, Niyi Adebisi, promised that the state government would continue to create a conducive atmosphere for businesses to thrive in the state.
The Managing Director and Chief Executive Officer of Tinath Realities, Mr. Kola Abimbola, described the Blue Sapphire District SmartCity Project in Ibadan as another landmark housing project that would be a small London in Ibadan when completed.