How my administration revived Osun economy – Adeleke

By Sunday Oguntuyi, Osogbo

Ademola Adeleke on Monday explained how his administration has revived the Osun State economy since assuming office in 2022, saying massive investment in infrastructure has stimulated business growth and expanded various sectors of the economy.

In a statement issued by his spokesperson, Mallam Olawale Rasheed, the governor made the remarks while receiving a delegation from the Association of Real Estate Managers and Consultants (AREMAC) at the Government House in Osogbo.

Adeleke said his administration had committed several billions of naira to the rehabilitation of roads, schools, health centres and public utilities as part of efforts to deepen the state economy and improve its Gross Domestic Product (GDP).

According to him, the administration’s infrastructure agenda has significantly impacted the local economy and the real estate sector through an integrated development plan focused on road networks, urban renewal and local content policies.

“Our infrastructure growth agenda is driving substantial changes in the local economy and real estate sector. Our integrated, multi-sector plan focused on road networks, urban renewal and local content policy is boosting Osun’s economic development,” he said.

“From 2023 to date, we have committed several billions of naira to infrastructure upgrades across the state. Our infrastructure-driven economic growth is creating new economic corridors and supporting urban renewal, while reducing traffic congestion in major cities.”

The governor said the administration prioritised local contractors, engineers, artisans and construction materials in executing projects to ensure funds circulated within the state economy.

“I am happy to announce that our administration has put an end to capital flight in Osun governance. Our policies have successfully reduced the state’s infrastructure deficit by over 50 per cent from 2022 to date,” he added.

Adeleke further stated that investments in infrastructure had increased property values and improved connectivity through the construction and rehabilitation of roads, thereby enhancing accessibility for residents and businesses.

He also highlighted the expansion of road networks in Osogbo, Ede, Iwo, Ilesa and Ile-Ife, noting that the development had opened up new areas for residential and commercial real estate investment.

The governor said the administration’s implementation of a 45-day processing window for Certificates of Occupancy had accelerated land transactions and boosted investor confidence in the property sector.

He added that the state’s One-Stop Investment Shop had simplified business processes and improved the ease of doing business for investors.

According to Adeleke, the administration is also focused on addressing rapid urban growth in Osogbo by expanding connectivity and development to surrounding towns and cities.

He said the government’s infrastructure drive was expected to position Osun as a tourism and economic hub in the South-West, while also supporting the state’s agro-industrialisation agenda.

Earlier, AREMAC President, Abiodun Olowoporoku, commended the governor for his commitment to the growth of the real estate sector and the wider state economy.

He particularly praised the signing of the state’s real estate regulatory bill into law, describing it as a major milestone for the sector in Osun State.