Oluyole LG flags off 30-hectare legacy estate to boost IGR, attract investment

Oluyole Local Government in Oyo State has flagged off a 30-hectare premium residential estate, known as The Legacy Estate, at Operinde along the Ijebu-Ode Road, in partnership with MKH Properties, as part of efforts to strengthen its internally generated revenue and attract investment.

The flag-off ceremony was performed by the Chairman of the Council, Engr. Akeem Olatunji, who described the project as a step toward expanding the council’s economic base and creating new revenue streams beyond federal allocations.

The project, situated within what stakeholders described as a developing investment corridor, is considered the first of its kind in the local government and a notable addition to Oyo State’s real estate sector.

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The initiative reflects a broader move by the council to leverage partnerships with private investors to drive development, create jobs, and stimulate economic activities at the grassroots level.

Speaking at the event, Olatunji said the project aligns with the development agenda of Governor Seyi Makinde.

“In Oluyole, we have decided to key into Governor Seyi Makinde’s developmental agenda.

“We will continue to partner with organizations that can drive meaningful development in our local government, and we are pleased to collaborate with MKH Properties,” he said.

He described the estate’s location as a prime investment area with strong prospects for property acquisition.

“This is one of the best locations where you can acquire landed property,” Olatunji added.

Also speaking, the Oyo State Commissioner for Public Works, Hon. Abdulmojeed Mogbonjubola, highlighted the economic potential of the project, describing it as a major investment opportunity.

“Legacy Estate is a big one,” he said.

Mogbonjubola encouraged residents and investors to take advantage of the development, noting that land investment in strategic locations could yield significant returns over time.

He further noted that the estate is located less than one kilometre from the Lagos-Ibadan Expressway and about 700 metres from the Circular Road, positioning it as a potential growth hub.

According to the council chairman, the developer is expected to deliver a modern residential scheme with facilities that will enhance the area’s profile and support economic activities within the local government.

Stakeholders at the event said the project underscores a deliberate effort by the council to use public-private partnerships as a tool for economic transformation, especially as local governments face increasing pressure to become more financially independent.

They added that initiatives like the Legacy Estate could shape how councils reposition themselves in a changing fiscal environment.

The event was attended by political leaders, traditional authorities, and community stakeholders, including the Oluyole PDP Chairman, Alhaji Nasiru Hamzat; former PDP Chairman in the local government, Alhaji Mukaila Adegbola; the Head of Local Government Administration, Mrs. Oyewale Mosunmola; as well as traditional rulers, religious leaders, market leaders, supervisory councillors, special assistants, and other dignitaries.