Oyo govt moves into investing N850m in sugar factory, approves grant to university
Seyi Makinde
“The sugar plant currently valued at N4.9billion is at 90 per cent completion, and will be completed next year,” he said.
The Oyo State Executive Council, on Tuesday, approved N850m as an investment in the Oyo Sugarcane Processors Limited, Iseyin through the state-owned Pacesetter Holdings Limited.
The state Commissioner for Information, Dotun Oyelade, and his counterpart from the Ministry of Education, Science and Technology, Saliu Adelabu, briefed journalists of the outcome at the secretariat, Agodi in Ibadan, the state capital.
Oyelade said the government also increased the number of vehicles for Operation Burst to 60.
The commissioner said this was a result of the procurement of 40 extra security vehicles for the agency.
He said that other security arms like the Army, the police, and Nigerian Security and Civil Defence Corps among others, were also given additional vehicles.
“The State Executive Council has approved N850m as an investment in the state Sugarcane Processors Limited, Iseyin through the state-owned Pacesetter Holdings Limited.
“The sugar plant currently valued at N4.9billion is at 90 per cent completion, and will be completed next year,” he said.
He further stated that already, the state Amotekun has the largest number of security vehicles with 150 for its operations, the largest number of personnel of about 2,000 and the best paid in South West.
“Investing in the project, the state’s economy will be stimulated with the injection of 3,000 direct and indirect job opportunities,” he added.
In his briefing, the Commissioner for Education, Science and Technology, Adelabu, said, “The State Executive Council approved half a billion naira as a capital grant for Abiola Ajimobi Technical University, Ibadan.
“The N500million grant would aid the accreditation of the institution’s new and old programmes for the 2024/2025 academic session by the National Universities Commission.
“The government also approved over N900m as counterpart fund to partner with World Bank who had earlier donated N1bn to the state through the Better Education Service Delivery For All.”
