The Osun State Government, under the leadership of Governor Ademola Adeleke, has entered into a strategic partnership with Smart City Plc to drive innovation, economic development, and enhance the quality of life for citizens.
The agreement was formalised with the signing of a Memorandum of Understanding (MoU) between both parties.
The deal aligns with Adeleke’s broader industrialisation agenda, which prioritises infrastructure, technological advancement, healthcare, education, agriculture, and commerce as key drivers of inclusive growth and development.
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Smart City Plc, a Nigerian investment and infrastructure company founded in 2017 and headquartered in Ikoyi, Lagos, specialises in real estate development, smart urban planning, and emerging technologies.
The initiative is structured as a Public-Private Partnership (PPP) model, with policy backing from the Osun State Government and technical implementation by Smart City Plc.
Speaking at the MoU signing ceremony, the Osun State Commissioner for Commerce and Industry, Bunmi Jenyo, who signed on behalf of the state government, expressed delight over the milestone.
He praised the collective efforts of various government agencies that helped bring the project to life.
Chairman of the Board of Directors at Smart City Plc, Demola Aladekomo, who signed the agreement on behalf of the company, described the partnership as a timely step towards transforming vision into reality.
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According to the terms of the agreement, the project, located within the Living Spring Free Trade Zone—will include an affordable housing scheme for salaried workers and is expected to create over 100,000 direct jobs.
Beyond employment, the initiative is anticipated to generate revenue and position Osun State as a global investment destination, potentially attracting further foreign direct investment.
