The Oyo State Government has formally handed over land allocation letters to cashew traders operating from the ultra-modern business hub in Ogbomoso.
The official presentation took place at the office of the Commissioner for Investment, Trade, Cooperatives, and Industry, Hon. Adeniyi Adebisi, located at the state secretariat in Ibadan.
This development was announced in a statement issued on Sunday by the Commissioner for Information, Prince Dotun Oyelade, and shared with journalists in Ibadan.
During the event, Hon. Adebisi highlighted that the occasion signified the conclusion of a long-standing land regularization process involving the government and the traders.
He emphasized that the issuance of the allocation letters marked a significant step towards advancing the state’s economic agenda, stressing the vital role of peace and dialogue in resolving disputes and promoting progress.
“The government places top priority on economic growth,” Adebisi said. “And such progress can only be achieved in an environment of peace.”
He further explained that after a series of meetings with the traders, the state government approved a discounted rate of ₦250 per square metre—down from the initial ₦500—and introduced a two-year grace period. According to the arrangement, payments will begin in May 2025 and continue until April 2035.
Adebisi also assured stakeholders that the land allocation process is transparent and free from third-party involvement, praising the traders for their patience throughout the negotiations.
Speaking on behalf of the cashew merchants, Mr. Jide Akalaifa and Mr. Jubril Arulogun expressed appreciation for the state government’s support and openness during the process.
They commended the Ministry for listening to their concerns and offering fair terms, adding that the initiative reflects the government’s dedication to inclusive economic development.
Both representatives noted that the land allocations would help structure business operations, enhance growth for local enterprises, and boost the state’s internally generated revenue.
