Oluyole Local Government has taken a major step toward strengthening its internally generated revenue (IGR) drive, as the Executive Chairman, Engr. Akeem Olatunji, on Saturday flagged off the development of a 30-hectare premium residential estate in partnership with MKH Properties.
The project, named The Legacy Estate, is situated at Operinde along the Ijebu-Ode Road and has been described by stakeholders as the first of its kind within the local government and a major addition to Oyo State’s evolving real estate sector.
The initiative reflects a growing shift by the council to attract direct investments capable of expanding its economic base, creating jobs, and unlocking new revenue streams beyond federal allocations.
Speaking at the flag-off ceremony, Olatunji projected the project as part of his administration’s strategy to align Oluyole with the development blueprint of Governor Seyi Makinde.
“In Oluyole, we have decided to key into Governor Seyi Makinde’s developmental agenda.
“We will continue to partner with organizations that can drive meaningful development in our local government, and we are pleased to collaborate with MKH Properties,” he said.
He described the estate’s location as a prime investment corridor, noting that it offers one of the most viable opportunities for property acquisition in the area.
“This is one of the best locations where you can acquire landed property,” Olatunji added, signaling confidence in the project’s long-term value for investors and residents alike.
Also speaking, the Oyo State Commissioner for Public Works, Hon. Abdulmojeed Mogbonjubola, expatiated the economic potential of the development, describing Legacy Estate as a landmark investment opportunity.
“Legacy Estate is a big one,” he said, urging residents and prospective investors to take advantage of the initiative.
Mogbonjubola went further to highlight the financial benefits of land investment, explaining that property acquired and held over time could appreciate significantly, potentially transforming buyers into millionaires within a few years.
He commended the developer for identifying the area’s strategic value, noting that the estate lies less than one kilometre from the Lagos-Ibadan Expressway and about 700 metres from the Circular Road, positioning it as a future growth hub.
The developer, according to the LG boss, is expected to deliver a modern residential scheme with ultra modern facilities that will not only elevate Oluyole’s profile but also stimulate ancillary economic activities within the council area.
Stakeholders at the event noted that beyond its immediate real estate value, the project reflects a deliberate policy direction by the Oluyole council to leverage public-private partnerships as a tool for grassroots economic transformation.
They equally noted that with increasing pressure on local governments to become more financially independent, initiatives such as the Legacy Estate project may well define how councils like Oluyole reposition themselves in a changing fiscal environment.
The event had in attendance a cross-section of political leaders, traditional authorities, and community stakeholders, including the Oluyole PDP Chairman, Alhaji Nasiru Hamzat; former PDP Chairman in the local government, Alhaji Mukaila Adegbola; the Head of Local Government Administration, Mrs. Oyewale Mosunmola; as well as traditional rulers, religious leaders from both Muslim and Christian communities, market leaders, supervisory councillors, special assistants, and other dignitaries.
