As one of the pillars of the present Makinde led Administration in Oyo State based on sustainable economic development,Oyo State government has on Wednesday commenced formal construction of an ultra modern shopping outlets in Ibadan.
The newly reconstructing Jonku Market sited along Academy -Iwo Road Ibadan in the North East Local Government Area of the State is believed to improve well being of market traders, offer new jobs and as well improve the internally generated revenue of the State.
Speaking, the new market project manager, Engr. Ade Adedeji stated that the project Is into phases including warehouses, lock-up shops, shed and ancillary, parking space and green area will take 11 months for completion, noting that the ongoing project will contain over 320 shops on storey building 6320 square metres .
” The project is into phases as you can see. We have warehouses, the warehouses are of 10 numbers about 135 sq metre each which will have its own convenience suite and each will come with an office. Then we have the lock up shops. The lock ups are of two categories: regular lock up which is about 7.4square metre, so we have it about 20 , storey building each , 20 floors and the ground floor 20 , making 40. We’ll now have that in 8 phases, making 320 lock up shops”
” The second category , another which we call the shed ancillary, like we have over here whereby that will accommodate the perishable sellers the fruit, water melon etcetera.”
The project manager added that new construction will specifically occupy the land for its real purpose which give the state a new outlook and increased internally generated revenue
” In Economics, we have what we call utility. Utility making a judicious use of where you are. When you have an asset and you don’t make good use of it. It is a waste . As large as this place is , can you believe we can have anything like this at Iwo Road? It is very elusive to understand so because of the existing structures here, the land was not well managed. They had just few units of shops and not today’s standard, the main motive is for restructuring, renovation, reconstruction into a beholding artephase that stand the stand of anywhere.
” Secondly, it will accommodate more people. We had less than 100 shops here and now you see we have 6320 square metres is that not reasonable enough? That shows you are not making use of where you are. By the time we are done with all 320 shops, 10 warehouses, 50 sheds, 10 shops as well”, Adedeji said.
Reacting, the state governor, Seyi Makinde ably represented by Chairman, North East Local Government Area, Hon. Ibrahim Akintayo assured Oyo State market traders, especially at Adogba Area will access the constructing shops
Akintayo mentioned that all registered traders with the local government since 2020 will be earlier attended to for rents
“Not just Academy. The executive governor, Engr. Seyi Makinde at the time when he was about starting the motorpark at Iwo Road over there, the people that we are using the Adogba shopping complex, he made a promise to them saying’he will relocate them as of when the demolition of building. So he has instructed that when these new shops are coming up, so we have a list of everyone since 2020 , because that’s when we have been on this issue and by the grace of God, by the time we finish this, we are going to consider them”
The State government informed that the rent will be moderate ,stating that the market reconstruction is on public -private partnership plan is ratio 60 : 40 , especially after valuation at building completion
“Like I said , we have the list of everyone since 2020 which is personally kept by myself , so, their number is not even up to the number of shops, we’ll have here. So we’ll have more than enough “
” Well, we at the local government, the deal we have with the developer is 60:40 , whatever is giving to the local government will be on rental basis, to be discussed, confirmed by the time the building is completed , it will be valued”, Akintayo stated.
