The Oyo State government has approved N850 million as an investment in the state-owned Sugarcane Processor Limited in Iseyin through Pacesetter Holdings Limited. The sugar plant, valued at N4.9 billion, is nearing completion at 90%.
To enhance security, the executive council also approved the procurement of 40 additional vehicles for Operation Burst, bringing the total to 60. Other security agencies, including the Army, Police, and Civil Defence, received extra vehicles.
Information Commissioner Prince Dotun Oyelade stated that Oyo State Amotekun boasts the largest number of security vehicles (150), personnel (2,000), and best pay in Southwest Nigeria.
The sugarcane processor plant investment is expected to stimulate the state’s economy by creating 3,000 direct and indirect job opportunities. Completion is slated for next year.
In another development, the state executive council approved N500 million as a capital grant for Abiola Ajimobi Technical University, Ibadan. Education Commissioner Prof. Saliu Adelabu explained that the grant will aid accreditation of new and old programs by the National Universities Commission for the 2024/2025 academic session.
Additionally, the state government approved over N900 million as a counterpart fund to partner with the World Bank, which donated N1 billion to the state through the Better Education Service Delivery For All (BESDA) initiative.
