The Osun State Government yesterday signed a N1.3 billion Memorandum of Understanding (MoU) for the building of the Ayegbaju International Market in Osogbo, the state capital. Speaking with reporters at the Governor’s Office after the signing of the MoU, Commissioner for Regional Integration and Special Duties Bashiru Ajibola said the building of the market is a Public Private Partnership project and is expected to be completed in 24 months.
Ajibola said the market would be situated at the old Governor’s Office. He said the state will pay 30 per cent of the N1.3 billion and Edward Property Consult will pay 70 per cent. Ajibola said: “The total cost of the project is N1.3 billion. The state will contribute 30 per cent, meaning Osun is expected to contribute N300 million. But having provided the land for the project, which was valued at N120 million, the state will only pay N180 million.”
He said occupants of the site have been advised to relocate to their parent ministries. The commissioner said the state government would pay a year rent for Federal Government offices affected by the relocation. When completed, he said lock-up shops at the market would be given out on lease.
Ajibola said the market will have a medical centre, guest chalets, police post, 896 open shops, 512 lock-up shops A and 72 lock-up shops B.