The government of Oyo State has revealed plans to establish a business district in Ibadan, the capital city of the state. This initiative aims to create a commercial hub that will drive economic activities in the region.
The Commissioner for Lands, Housing, and Urban Development shared details about the project during a meeting with stakeholders in the Akinyele area of Ibadan. A total of 3,149 hectares of land has been allocated for the project, with a portion set aside for the resettlement of affected villages.
The designated business district, named Ilu-tuntun, will cover an area of 1,717.235 hectares. A separate 833.853 hectares have been identified as a developed area and will be excluded from the acquisition.
Enumeration and valuation of properties within the Ilu-tuntun Business District will begin on a specified date to assess the impact on the affected areas. The government encourages partnerships with the private sector to boost the economy and enhance the living standards of residents.
Residents are urged to cooperate with officials during the enumeration and valuation process. The local council chairman expressed gratitude for the government’s efforts in initiating this project, which has been well-received by the community.