Adeleke Attributes Osun Economic Growth to Infrastructure Projects

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Adeleke Attributes Osun Economic Growth to Infrastructure Projects

By Waliu Adetokun, Osogbo

Governor Ademola Adeleke of Osun State has attributed the revival of the state’s economy to his administration’s massive investment in infrastructure and reforms aimed at stimulating business growth and expanding critical sectors.

The governor stated this on Monday while receiving members of 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, healthcare centres and other public utilities since assuming office, noting that the projects were designed to strengthen the state economy and improve its Gross Domestic Product (GDP).

“Our infrastructure growth agenda is driving substantial changes in the local economy and real estate sector,” the governor said.

According to him, the administration’s integrated development plan, which focuses on road networks, urban renewal and local content policy, has continued to stimulate economic growth across the state.

“From 2023 to date, we have committed several billions of naira to infrastructure upgrade across the state. Our infrastructure driven economic growth has created new economic corridors and urban renewal projects, while reducing traffic congestion in major cities,” Adeleke stated.

He explained that the government deliberately prioritised local contractors, engineers, artisans and locally sourced construction materials in order to ensure that funds circulate within the state economy.

“Our projects prioritise local contractors, engineers, artisans and construction materials to ensure that funds circulate within the state. I am happy to announce that our administration has put an end to capital flight in Osun governance,” he added.

The governor further disclosed that the administration had reduced the state’s infrastructure deficit by over 50 per cent since 2022, stressing that investments in roads and urban renewal had improved connectivity and increased property values across major towns.

He listed Osogbo, Ede, Iwo, Ilesa and Ile-Ife among cities benefiting from road expansion and urban development projects, noting that the projects had opened up new opportunities for residential and commercial real estate investments.

Adeleke also highlighted reforms in land administration, including the introduction of a 45-day processing window for Certificates of Occupancy, which he said had accelerated land transactions and encouraged investment in the state.

“Our One-Stop Investment Shop has simplified the ease of doing business and created a more attractive environment for investors and property developers,” the governor said.

He added that the administration’s long-term goal was to position Osun as a tourism and economic hub in the South-West, while also driving agro-industrialisation through sustained investments in infrastructure, healthcare and education.

Earlier in his remarks, the President of AREMAC, Mr Abiodun Olowoporoku, commended the governor for his commitment to the growth of the real sector of the state economy.

Olowoporoku particularly praised the signing of the real estate regulatory bill into law, describing it as “a major milestone for the real estate sector in Osun State.”