The Oyo State Government has formally issued land allocation letters to cashew merchants operating from the Ultra-Modern Business Complex in Ogbomoso, resolving a long-standing land regularization dispute.
The presentation ceremony took place at the office of the Commissioner for Investment, Trade, Cooperatives, and Industry, Hon. Adeniyi Adebisi, at the Secretariat in Ibadan. Adebisi described the development as a significant milestone in promoting economic growth and enhancing government-business relations through peaceful engagement.
“This is a major breakthrough. Economic expansion remains a top priority for this administration, and sustainable growth can only thrive in a peaceful environment,” the Commissioner noted.
According to him, after extensive dialogue with the affected merchants, the state government approved a substantial reduction in the land allocation rate—from ₦500 to ₦250 per square metre. In addition, a generous two-year moratorium was granted, with payment scheduled to begin in May 2025 and run through April 2035.
Hon. Adebisi further assured the traders that the process remains transparent and free from third-party interference. He commended the merchants for their patience and constructive approach throughout the negotiation period.
Responding on behalf of the beneficiaries, Mr. Jide Akalaifa and Mr. Jubril Arulogun expressed deep appreciation to the Oyo State Government for its intervention, fairness, and commitment to inclusive development.
They praised the Ministry’s proactive steps in resolving the matter and described the terms of allocation as favorable and business-friendly. According to them, the initiative will create structured opportunities for small-scale enterprises to thrive, while also contributing to the State’s Internally Generated Revenue (IGR).
The land allocation is expected to boost commercial activities and further integrate Ogbomoso’s cashew market into the broader economic framework of Oyo State.
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