• Friday, July 19, 2024
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BusinessDay

Oyo plans establishment of IPP, Industrial Park, Light Rail System

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In its bid to attract more industries, Oyo state government is set to establish an independent power project.

The IPP is expected to put an end to the perennial power outage in the state and improve the development of small scale businesses in the state.

Also, the state is set to establish an Industrial Park and Light Rail System.

The deal towards the establishment of the projects was struck during the visit of a business delegation led by Yuan Quan Jing and the Coordinator of the Nigeria-China Business Council, Mathew Uwaekwe to Governor Abiola Ajimobi in his office in Ibadan.

Governor Ajimobi, while receiving the delegation said that the light rail system would make the state more accessible for the people and ease the means of transporting agricultural products from rural to urban centres.

The governor added that an Industrial Park with an assemblage of manufacturing companies would give the state world exposure and consequently improve the economy of the state.

According to Governor Ajimobi, the state is ready to copy the development model of China which has placed the country (China) among the three leading economies of the world.

He explained that his administration, upon inception, had developed a blueprint for the development of the state based on a tripod of restoration, transformation and repositioning.

Governor Ajimobi said that the state had been adjudged as one of the safest states in the country with over 128,000km. sq. of arable land for agricultural development.

In his response, the leader of the Chinese delegation, Yuan Quan Jing said his business consortium was ready to share the development experience of China with Nigeria and Oyo State in particular.

The Coordinator of the Nigeria -China Business Council, Mathew Uwaekwe, in his remarks, said that the council had signed a MoU with many provinces in China for business development in Nigeria.

Remi Feyisipo