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CONCESSION OF AGBOWO SHOPPING COMPLEX, ASPHALT COMPANY, A WIN-WIN FOR OYO- OGUNWUYI

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The Director-General of Oyo State Investment and Public, Private Partnership Agency (OYSIPPPA), Hon. Segun Ogunwuyi said that the Oyo State government, under the Leadership of Engineer Seyi Makinde, will begin the process of bringing a face-lift to Agbowo Shopping Complex, Ibadan, this week.

Ogunwuyi stated this while responding to questions posed to him by the journalists. He added plans are in motion to concess the dilapidated Agbowo Shopping Complex to concessioner that would renovate it for the benefit of Oyo State Indigenes.

Mr. Ogunwuyi also said The Ibadan Dry Port work was currently on going adding the project would be a tripartite investment opportunity between the State government, the Nigerian Shipper’s Council and the Private sector.

He added that the Pacesetter Asphalt Plant and Quarry, Ijaiye has already been handed out on concession, his agency is vigorously pursuing the concession of the Agbowo Shopping Complex, which he said will come alive starting from this week.

In his statement, Mr Ogunwuyi said that these Projects would be a Win-win for the good people of Oyo upon completion. He added that the State government doesn’t commit funds to the renovation and improvement on these projects since it has been conceded to Agency that would fund it with their money.

He said: “The second one is the Agbowo Shopping Complex, we have been on that and I am happy to say that by next week (this week), the governor will be handing over the asset to an investor on a concession basis, these are two critical assets of the state that we have been able to concession since we came on board.

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“We have touched on basically all aspects of our mandate; we are primarily in charge of concessioning government assets and we have done four major concessioning.

Let me mention two that will be well known to people, we have concessioned the asphalt and quarry plant that we have in Ijaiye, that’s somewhere around Moniya, a private investor is running it profitably and the government of Oyo State gets a percentage of the revenue when sales are made.”

He said: “Because it is a concession, Oyo State did not put one naira into the project (Asphalt Plant), it costs government nothing.

What we did was to get investors that can run the business profitably and we negotiated with them based on the quantum of investment they want to put in, how long they will have the concession and the revenue that is accruable to Oyo State from that.

Currently, you can buy all manners of stone-based granite and asphalt there. We are also happy to say that the operation no potholes being carried out by the state government currently is done mostly with the asphalt gotten from the plant.

“So it is a win-win situation for government; the government is doing its duty in terms of infrastructure and still getting revenue because for anything that is bought at that asphalt plant, we get a cut of that as a government. So it is a win-win for Oyo State.

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