The Oyo State Executive Council recently sanctioned an investment of N850 million in the Oyo Sugarcane Processors Limited, Iseyin, facilitated by the state-owned Pacesetter Holdings Limited. Additionally, a capital grant of N500 million was approved for Abiola Ajimobi Technical University in Ibadan. These decisions were communicated during a briefing by the Commissioner for Information and the Commissioner for Education, Science, and Technology at the Secretariat in Agodi, Ibadan.
Moreover, the council endorsed an increase in the number of vehicles for Operation Burst to 60, with 40 extra security vehicles procured for the agency. Various security arms such as the army, police, and civil defense also received additional vehicles.
The state’s Amotekun now boasts the largest fleet of security vehicles (150), a workforce of around 2,000 personnel, and the highest remuneration in southwest Nigeria. The investment in the state Sugarcane Processors Limited is expected to boost the economy, generate about 3,000 job opportunities, and enhance the completion of the sugar plant by next year.
On the educational front, the N500 million grant for Abiola Ajimobi Technical University aims to support accreditation processes for new and existing programs. Additionally, over N900 million was approved as a counterpart fund to collaborate with the World Bank for educational development initiatives, including addressing out-of-school children and improving infrastructure and school facilities across the state.