Osun State Governor, Senator Ademola Adeleke, on Tuesday detailed how his administration has revived the state's economy since taking office, revealing that substantial investment in infrastructure has rapidly stimulated business growth and expanded various economic sectors.
Addressing Real Estate Delegation
The governor made this known while addressing a delegation from the Association of Real Estate Managers and Consultants (AREMAC) at the Government House. A statement issued by Adeleke's spokesperson, Olawale Rasheed, noted that the governor has committed several billions of naira to the rehabilitation of roads, schools, health centres, and state utilities, with the objective of deepening the state's economy and improving its Gross Domestic Product (GDP).
Infrastructure-Driven Growth
According to the statement, Adeleke said: “Our infrastructure growth agenda is driving substantial changes in the local economy and real estate sector. Our integrated, multi-sector plan focuses on road networks, urban renewal, and local content policy. This is boosting Osun's economic development.
“From 2023 to date, we have committed several billions of naira to infrastructure upgrade of our dear state. Our infrastructure-driven economic growth creates new economic corridors and urban renewal, reducing traffic congestion in major cities.
“Our projects prioritize local contractors, engineers, artisans, and construction materials to ensure that funds circulate within the state. I am happy to announce that our administration put an end to capital flight in Osun governance. Our policies successfully reduced Osun's infrastructure deficit by over 50 percent from 2022 to date.
“Our spending on infrastructure has increased property values and improved connectivity through graded and paved roads. This is elevating the real estate sector and enhancing accessibility for residents and businesses.
“We have scored a major first in urban expansion and planning. Widening of road networks in cities like Osogbo, Ede, Iwo, Ilesa, and Ile-Ife is pushing development into new areas. This increases opportunities for residential and commercial real estate development.”
AREMAC Commends Governor
Speaking earlier, the President of the Association of Real Estate Managers and Consultants (AREMAC), Mr Abiodun Olowoporoku, praised Adeleke for his commitment to the growth of the real sector of the state economy. He also appreciated the signing into law of the real estate regulatory bill, describing it as a major landmark in the relationship between the government and the estate sector of the state.
