Power
OYO State government in partnership with Allianz West Africa has taken delivery of ten 500kva distribution transformers and one 5MVA power transformer for Yekini Adeojo and Sen. Rashidi Ladoja GRAs, Ibadan.
The Managing Director, Allianz WA, Mr. Yinka Owodunni, said this in Abuja on Saturday.
He said the purchase carried out on a Public Private Partnership was supervised by the Oyo State Investment and Public Private Partnership Agency (OYSIPA).
The transformers, which are expected to provide electricity to over 2,000 households in the benefiting areas were procured from Istanbul, Turkey.
This development, according to him, is a testament that PPP Always Wins and is a profitable strategy for the government to fast track infrastructural development
He commended the Oyo Staye government, through OYSIPA for its continued support of PPP initiatives in the State, over the years.
Owodunni said OYSIPA played a key role in ensuring the success of the housing project at the New Town Development Area.
According to Owodunni, the Transformers delivered were valued at about 600 million naira.
He said the Power Distribution Infrastructure was designed to Power the New Town Development Area (NTDA) created by Gov. Seyi Makinde within the Southeast Corridor of the New and On-going Ibadan Circular Road (ICR).
“The circular road is analogous to the Lekki-Epe Expressway and will act as the backbone and pedestal Infrastructure for heralding in about 4 Trillion Naira Economic Inflows into Ibadan over the next few decades’’, he said.
He affirmed that MEGA Infrastructure will attract Investors and more infrastructure solutions and praised the Tenacity of GSM administration in ensuring
The Northeast and Southeast Quadrants of The Ibadan Circular Road is 100% completed during its tenure
“This Power & Distributive Transformers will cater for about 2000 family units that will populate this New Town (NTDA)”, he said.
Owodunni, said about 1000 streetlights would be activated to further illuminate the aerial space within this NTDA, further, complimenting the GSM Light-Up Ibadan Project.
He said, this is the first 5MVA power transformer to be ever installed in any residential enclave in Oyo State and was symbolic of the power of partnering with the private sector.
He said, “The Private sector can carry more burden for governments when visionary leadership is activated upfront.”
“AllianzWA is excited to be on this PPP Journey with OYSIPA and is prepared to infuse more investments into Oyo State due to the exemplary leadership of GSM.
“We have invested about 10 Billion naira in the state thus far at the Engineer Lere Adigun (ELA) and Yekinni Adeojo (YAGRA) Infrastructured GRAs.
“The Allianz board of directors are making plans for an upward capital injection of about 50B to 100B in future Win-Win projects within Oyo State”, he said.(NAN)
F.A
July 13, 2024
Tags: Allianz W.A Oyo transformers
