Oyo enters N8bn MoU for Agbowo complex renovation

The Oyo State government has entered a Memorandum of Understanding (MOU) with Agbowo Mall infrastructure Development Company Limited, that will see the commission of about N8 billion to the renovation of the Agbowo shopping complex, Ibadan.

This came to the fore at the signing of the MOU involving the two parties at the office of secretary to the state government, Secretariat, Ibadan, on Wednesday.

The initiative, according to Secretary to the State Government, Mr Olalekan Alli, was in line with the resolve of the state government to transform moribund commercial structures in the state into modern outfits.

Alli said some priority would be given to current occupants of the shopping complex during the re-allocation of the shops upon completion of the project.

“We are trying to shift our strategy from direct applications in our developmental projects to collaborate with investors to redevelop all the moribund outfits fully owned by the government and managed by the Housing Corporation. We believe that we have to do things in modern fashion to ensure that people have access to international facilities in their buying and selling activities in line with the government’s agenda in ensuring the elimination of street trading.”

“The idea is to redevelop and remodel shopping centres of this nature. This will enable the masses to flow along with their counterparts in the developed country. The previous occupants of the various outlets of the shopping complex are here with us and we appreciate their support and understanding. We assure them that they will be given priority during allocations after the completion of the project,” Alli said.

In an interview, General Manager, Oyo State Housing Corporation, Mr Samuel Adekunle said the government had given occupants of the complex two weeks ultimatum to vacate the premises in order for work to commence.

According to the representative of the project development company, Mr Tunde Shonekan, the project, would span 30 months.

The Agbowo Shopping complex, which was constructed in 1984, is fully owned by the Oyo State Government and managed by the State Housing Corporation.