Construction of Roads Within Economic Hub Has Increase Value of Landed Property By 300%- Ogun Govt - EDU-BIZNEWS


Friday, January 13, 2023

Construction of Roads Within Economic Hub Has Increase Value of Landed Property By 300%- Ogun Govt

Ogun State Government says the construction of roads within the economic hubs of the state  has increased the value of landed property by 300 percent, particularly in Agbara-Atan and Epe-Ijebu-Ode axis of the state

The State Commissioner for Finance and Chief Economic Adviser , Dapo Okubadejo, made the  disclosure while fielding questions from newsmen at the 2023 Budget Breakdown Media Parley, held at the Olusegun Osoba Press Centre, Oke Mosan, Abeokuta.

According to him, the 19km Atan-Agabara-Lusada road being constructed by the Abiodun's administration has added to value of lands in the axis 

He added that the construction of the Epe-Mojoda-Ijebu-Ode road has increased the value of land along the axis by 300%.

Okubadejo noted that in the area of transportation, the blue and red rail lines from Lagos will be extended to the State from Kajola ti Agbara respectively. 

Describing the approach of the state to budget as inclusive and holistic, the Chief Economic Adviser said "this is reflective of the deep thinking that goes into the making of the budget and policy formulation and execution since since 2019."

Equally, he added that government deliberately focusses on certain reforms to improve internally generated revenue and in a manner that will prosper the people. 

Okubadejo, flanked by his counterparts in the Ministries of Budget and Planning and Information and Strategy, Olaolu Olabimtan and Waheed Odusile, respectively, explained that Governor Abiodun-led administration decided to earmark the large chunk of the 2023 budget to infrastructure, in order to make the state more attractive for investors.

According to him, the huge investment by the current administration in the provision of roads and other critical infrastructure has started yielding positive results, adding that "the socioeconomic development going on around the Agro Cargo Airport in Ilishan is humongous".

While scoring the state high for recording 71% budget performance in 2021, Okubadejo expressed confidence that the N472billion budget of 2023 would be pursued towards expanding development and creating more prosperity for the people.

The Commissioner added that the state government would look for investors that can help the state explore oil and bitumen, and continue to partner private sector in the provision of critical infrastructure capable of making life more meaningful for the people of Ogun.

Okubadejo, however, said that the Abiodun-led administration adopted the International Public Sector Accounting Standard (IPSAS) in contrast to what he described as "cash accounting" being used by the immediate past administration.

He stated that the method of accounting adopted by the last administration in the state did not indicate liabilities, which according to him was not only confusing but fraudulent.

The Commissioner further noted that Ogun would partner Independent Power Project (IPP) providers, not only to generate electricity, but involve in the distribution of power to industries, public and commercial entities in the state.

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