An Estate developer, Prince Adelaja Adeoye has called on the Federal government to engage stakeholders in ensuring that citizens are relieved of the burden of high cost of building materials.
Adelaja ,who is also the Chief Executive Officer, Fendini Group explained that the skyrocketing price affects the real estate sector, leading to difficulty in getting affordable housing by the citizenry.
He made this known during the grand opening of Westmead Mall at Rayfield Gardens City Estate, Monatan, Ibadan.
He emphasized the importance of a thriving economy, noting that when the economy is good, more people will be able to afford their preferred landed and real properties.
Acknowledging the significant impact of the economy on the real estate sector, he expressed hope that the cost of building materials will decrease with President Bola Tinubu’s economic initiatives.
While he urged the Federal Government to focus on fiscal and monetary policies that will make Nigeria an attractive investment destination for Africa and the world.
The Fendini Group CEO praised Oyo State’s remarkable progress, describing it as a “pacesetter” with widespread development.
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He attributed this success to Governor Seyi Makinde’s leadership, which according to him has positioned Oyo State as a prime investment destination for various sectors.
Adelaja said that the Governor Makinde’s administration has prioritized growing Oyo State’s economy, which according to him has expanded from N2.75 trillion in 2019 to N4.05 trillion as of Q3 2022.
“This growth has been accompanied by a significant increase in Internally Generated Revenue (IGR) and a growing middle class.
“Oyo State has also witnessed an influx of MSMEs and large-scale industries, including a multinational oil and gas company, Shell Nigeria Gas Limited.
“This investment momentum is expected to continue, with the Oyo State Government hosting a global investment summit in London to showcase the state’s investment opportunities.
“The state government’s efforts to create a conducive business environment have been fruitful, with initiatives such as the Oyo State Investment and Private Public Partnership Agency (OYSIPA) and the Oyo State Agribusiness Development Agency (OYSADA).
“These agencies have facilitated investments, provided support for SMEs, and promoted agribusiness development in the state.
“As Oyo State continues to attract investments and drive economic growth, it is clear that the state is on the right path to becoming a leading economic hub in Nigeria.
“With Governor Makinde’s leadership and the state’s investment-friendly environment, Oyo State is poised for sustained economic growth and development”, he concluded.
“In our contribution to the economy of the state , the management of Fendini Group had established the Westmead Mall to offer customer centric services and provide umatched retail pricing of items to consumers in Ibadan
“The Rayfield Gardens City is a Public –Private-Partnership [PPP] initiative between Fendini and the Oyo State Government via the OYSIPA”, he added.
