The Oyo State government has approved N850 million as an investment in the state’s sugarcane processor limited, Iseyin, through state-owned Pacesetter Holdings Limited.
The sugar plant, currently valued at N4.9billion is at 90 per cent completion.
To further secure the state, the executive council increased the number of vehicles for Operation Burst to 60 at its meeting yesterday.
This was a result of the procurement of 40 extra security vehicles for the agency.
Addressing the media after the meeting, the commissioner for information, Prince Dotun Oyelade, said that other security arms, such as the Army, the Police, and Civil Defence, were also given additional vehicles.
The commissioner revealed that Oyo State Amotekun already had the largest number of security vehicles, 150, for its operations, the largest number of personnel, about 2,000, and the best pay in Southwest Nigeria.
He said that investing in the project would stimulate the state’s economy by creating 3,000 direct and indirect job opportunities.
The sugar plant is expected to be completed next year.
Also, during the media briefing, the commissioner for education, science and technology, Prof. Saliu Adelabu, said the state executive council had approved N500 million as a capital grant for Abiola Ajimobi Technical University, Ibadan.
Adelabu said the N500 million 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 commissioner disclosed that the state government has approved over N900 million as a counterpart fund to partner with the World Bank, which had earlier donated N1 billion to the state through the Better Education Service Delivery For All (BESDA).
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