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  • News - South West - Osun
  • Updated: March 07, 2024

Investors commit over $80 million to Osun infrastructures, multiple domestic gas projects

Investors commit over $80 million to Osun infrastructures, m

Two investing conglomerates on Tuesday evening committed close to eighty million dollars to investment in Osun state infrastructures within the framework of Public Private Partnership.

The revelation is contained in a statement by the Osun State Governor, Ademola Adeleke.

The statement which was issued by his spokesperson, Olawale Rasheed revealed that the investors include Allegiance CNG Limited focussing on comprehensive sustainable energy solutions through Compressed natural gas and First Tricon Construction Services Limited with earmarked projects across infrastructures sub-sectors.

Governor Adeleke assured the company chiefs that Osun is implementing a fast-tracked ease-of-doing-business plan with a target of attracting investment into the state.

“These submissions here today are really massive. Osun is changing for the better. On a daily basis, various firms across the sector are reaching out to us with actionable proposals. I am glad that these two firms are really here to hit the ground running.

“We have the land. We have an enabling environment. Osun is already a huge construction site. You are welcome to the site.

“To the good people of Osun, more are coming. As I’m talking to you, more investors are knocking at our doors. We will not relent in the ongoing drive to expand Osun economy and ensure a better life for our people”, the Governor concluded.

The Allegiance CNG led by its Managing Director, Deji Afolabi listed several gas projects for which Osun state is to benefit up to the tune of Twenty Million dollars.

Afolabi said his form is willing to invest in power generation for Osun state to power the industrialisation objective of Governor Adeleke beginning with the powering of the State Secretariat and Government House 24/7 at no cost.

Promising a major reduction in the cost of cooking gas, the Managing Director said the proposed investment covers several gas value chains to expand the Osun economy and reduce energy poverty.

He said the plant by the firm will be stationed in three locations and reflect senatorial demography, promising to present a sample of the household gas to the governor within two weeks. 

In his separate presentation, the Chairman of First Tricoon Construction Services Limited, Remi Olumuyiwa said his company is impressed with the infra initiatives of the Governor, hence its decision to refocus a sixty million dollar investible fund for roads, bridges, water and housing projects across Osun.

He made elaborate presentations to the Governor and his team on several proposed infra projects, noting that the firm is a multi-faceted company involved in building roads, bridges, and houses with funding from several investors backed by top financial institutions.

Otunba Olumuyiwa posited that the firm is not going to burden the state with financial traps, assuring that it has a strong and good relationship with financial institutions for sponsorship of projects.

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