Ogun State Government has warned allottees of the Ibara Regeneration Scheme not to sell their land once allocated, as doing so would undermine the scheme’s objectives.
Speaking at a stakeholders’ meeting in Abeokuta on Saturday, the Commissioner for Housing, Jagunmolu Jamiu Omoniyi, stated that the state aims to develop a world-class city that would be a source of pride.
He mentioned that the state’s plan is to recreate areas like Banana Island or Parkview Estates in Ogun State, starting with the Ibara scheme.
Omoniyi emphasized that the vision is to transform housing in the state, noting that the allocation terms require allottees to begin construction immediately. Any attempt to resell the land would result in revocation.
“This administration intends to create another estate better than Banana Island. We want our sons and daughters, whether abroad, in Lagos, or Abuja, to have a place to call their own in Abeokuta,” he said.
“The agreement is clear: you will not buy the property for speculative purposes. We will not permit reselling. Within 60 days, you must start developing your plot, or we will revoke it, regardless of your status.”
Omoniyi explained that the Ibara Estate initially consisted of 232 bungalows, built to accommodate civil servants moved from Ibadan. The location was chosen for its proximity to Oke-Ilewo, the then state secretariat.
He noted that, unlike other Government Reservation Areas from the old western region, Ibara GRA remains underdeveloped.
“By not developing this estate, we miss out on significant value. Ibara Estate spans 32 hectares and is valued at over N20 billion today. The state aims to transform it into a world-class city that this generation can proudly associate with.”
“We noticed that many have invested in the GRA scheme since the 1970s, but without development, the value has stagnated. With our recent interventions, the value has likely doubled.”
“A plot that once sold for about N25 million now goes for N50 million to N60 million,” he added.
Omoniyi appreciated those supporting the scheme, acknowledging that the administration faced criticism but remained committed to its housing vision.
He highlighted that various housing projects have provided employment for nearly 50,000 people, with the Ibara Regeneration Scheme alone creating jobs for about 160 artisans.
The project includes 35 units of five-bedroom duplexes with two-bedroom quarters, and land is being allocated to second-cluster subscribers for development according to specifications.
Subscribers are allocated plots and receive survey sheets and maps, with 95 applicants already receiving their allocation.
Special Adviser to the Governor on Physical Planning and Enforcement, Tpl. Tunde Olugbewesa, remarked that the state has ample land for investors and developers, urging those with large properties to plan properly.
Osi of Egbaland, Chief Bode Mustapha, praised the Governor for rejuvenating Abeokuta, noting that the old Ibara housing estate was in poor condition.
Vice Chairman of the Egba Economic Summit, Dr. Gbenga Adeoye, called for enhanced security in Ibara GRA to protect residents from hoodlums.
