Home News Osun International Market Set to Takeoff as Govt. Begins Payment of N240m...

Osun International Market Set to Takeoff as Govt. Begins Payment of N240m Compensation


By Deborah Oladejo, Osogbo

Osun State Government on Friday began the payment of compensation to farmers and owners of economic valuables on the land acquired by the Government to site its first International market.

The Dagbolu International Market, which is codenamed O’Hub, is set to be established at Dagbolu, along Ikirun-Osogbo road. The establishment of the market was a derivative of the Economic Summit of the State in November 2019.

Speaking at the flag-off event, the Commissioner for Commerce, Industry, Cooperative and Empowerment in the State, Dr. Bode Olaonipekun said, “Today marks the taking off of the Dagbolu International Market project with the commencement of payment of compensation to farmers and land-owners at the location of the proposed international market.

“The total disbursement is N240million, but only N60million is being disbursed today. The whole payment cannot be disbursed today because of the need to take care of certain misgivings that may result from the various developments that have come up since  2011 when the project was first proposed. The second tranche of the compensation will come in no distant future . Once all issues have been sorted, we will commence the second phase as soon as possible, that is once all margins for errors have been cleared”, Olaonipekun stated.

The commissioner also said that a total of 723 beneficiaries are to be compensated, but because of the need to adhere to the COVID-19 safety protocols, the beneficiaries have been segmented to a batch of 70 recipients per day until they have all been attended to.

Commenting on the compensation exercise, the Commissioner for Lands, Physical Planning and Urban Development in the State, Mr Nathaniel Agunbiade described the compensation process as one of the evidences that the current administration has the interest of the people at heart.

According to him, “When a land is acquired by the government, the government is only entitled to pay what the law calls inexhaustible improvements, which accounts for the economic valuables on the land.

Speaking about the scope of the project, the Managing Director of Abeeb Investments, the private partners on the project, Mr Abeeb Salaam, said that the land space allotted for the project is 1200 hectares, which shall have international trading centre, a section designated for residential development, and another section for plants and machineries.

He added that the first batch of the project will accommodate 30,000 traders, from other States in the southwest, like Kwara, Ogun, Ondo, Oyo, and other States.

One of the beneficiaries of the compensation, who is the Chairman of the Dagbolu Compensation Committee, Alhaji Rasaq Aderemi Shittu, thanked Governor Adegboyega Oyetola for attending to the yearnings of nine years.


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