By Jemimah Wellington, JKNMedia Reporter
TEN 500KVA distribution transformers and one 5MVA power transformer have been delivered to Oyo State by Allianz West Africa.
These transformers will serve the Yekini Adeojo and Senator Rashidi Ladoja GRAs in Ibadan.
Managing Director Engr. Yinka Owodunni confirmed the delivery.
The transaction, a Public-Private Partnership (PPP), was supervised by the Oyo State Investment and Public Private Partnership Agency (OYSIPA).
The transformers arrived from Istanbul, Turkey, via Tin Can Island Port in Ibadan.
They will provide electricity to over 2,000 households in the GRAs.
Owodunni emphasized that PPP is a successful strategy for accelerating infrastructure development.
He praised the Oyo State government and OYSIPA Director General Mr. Tilewa Folami for supporting PPP initiatives.
OYSIPA played a crucial role in the housing project at the New Town Development Area.
The transformers, valued at about 600 million naira, will power the New Town Development Area created by Governor Seyi Makinde.
This area lies within the Southeast Corridor of the ongoing Ibadan Circular Road project.
Owodunni explained that the circular road, similar to the Lekki-Epe Expressway, will support economic growth, attracting about 4 trillion naira in inflows over the coming decades.
He credited the GSM administration’s tenacity in completing the NorthEast and SouthEast quadrants of the Ibadan Circular Road.
The new transformers will support about 2,000 family units in the New Town Development Area.
Owodunni also mentioned the activation of about 1,000 streetlights to enhance illumination in the area, complementing the GSM Light-Up Ibadan Project.
This marks the first installation of a 5MVA power transformer in a residential area in Oyo State.
Owodunni highlighted the significance of private sector partnerships in easing the government’s burden.
AllianzWA is committed to investing more in Oyo State, having already invested about 10 billion naira.
He announced plans for further investments between 50 billion and 100 billion naira in future projects within Oyo State.
Owodunni expressed excitement about the ongoing PPP journey with OYSIPA and the exemplary leadership of Governor Seyi Makinde.
