WorldStage Newsonline– The Oyo State Governor, Seyi Makinde, has approved the award of the Yekini Adeojo Government Residential Area (GRA) development to Allianz West Africa (Nigeria) Ltd. under a Public-Private- Partnership (PPP) scheme.
The Director-General of Oyo State Investment & Public-Private-Partnership Agency (OYSIPPA), Mr Tilewa Folami, handed over the Mandate Letter of Grant to the company in Ibadan on Tuesday.
The Managing Director/Chief Executive Officer (CEO) of Allianz-West Africa Offshore Limited, Adeyinka Owodunni, received the letter on behalf of the company.
According to the mandate letter, Allianz West Africa Ltd. will develop the infrastructural facilities at the 50-hectare Yekinni Adeojo GRA (YAGRA) at Oluyole in Ibadan.
It is expected to use private funds in doing this, and also manage the GRA on behalf of future residents and the Oyo State government for about 25 years.
Folami said this award to Allianz West Africa was premised on the successful performance and timely completion of the Lere Adigun GRA at Basorun in Ibadan by Allianz West Africa.
“The Engr Lere Adigun GRA has become a highly sought-after residential enclave for the upper middle class in Ibadan,” he said.
Owodunni said Adeojo GRA would be a residential development designed as part of a masterplan community to activate a satellite city on the South-East quadrant of the Ibadan Circular Road (ICR).
“This is where the ICR which is currently under construction intersects the newly-completed Lagos-Ibadan Expressway.
“This estate is positioned to allow its residents easy access to multiple cities, such as Lagos, Ile-Ife, Ijebu-Ode, et cetera, through the Ibadan circular road butterfly interchanges on the Lagos-Ibadan expressway.
He added: “With the ongoing construction of the 110-kilometre Ibadan Circular Road and the completion of the Lagos-Ibadan Expressway, a massive population influx is expected in Ibadan this decade.
“An additional five million people is projected to migrate to Ibadan due to these infrastructural developments and the satellite cities that precipitate.
“The Adeojo GRA is a visionary and complimentary last-mile infrastructure that will organically fit into the Oyo State 2030 masterplan.”
Adeojo GRA will have about 300 fully-serviced plots for residential/commercial/recreational services.
At full capacity, it will be an estate for about 600 to 800 families.
Allianz-West Africa will be providing the infrastructural facilities and have development control responsibilities as part of its PPP agreement with the Oyo State Government.
This in in sync with Gov. Makinde’s vision that all future GRAs in Oyo State must have 100 percent infrastructure before residency commences.
These facilities include major and minor roads with access slabs to all plots, drainages and stream channel conduits,
electrical sub-stations and reticulation to all plots.
Others are water plant and reticulation to common areas, security — perimeter fencing, three-barrier gate system, and beautification effects — green areas and aesthetic control.
The rest are administration of deeds of restrictions, multi-year development control services and multi-year estate management services.
Based on the execution of the Adigun GRA, Owodunni expects the installation of infrastructural facilities at YAGRA to be completed by the third quarter of 2024 and ready for full residency.
