Oyo State Governor, Seyi Makinde, has admitted that the redevelopment of Agbowo Shopping Complex in Ibadan may remain unfinished when he leaves office in 2027, six years after his administration flagged off the project in September 2020.
Makinde attributed the delay to funding challenges, saying it would take about N21 billion to complete the project.
The governor made this disclosure during a media chat on Fresh FM, where he spoke about ongoing projects and the need to plan for projects that may require attention beyond his tenure in 2027.
“Agbowo is there and I may not complete it before I leave because I don’t have N21 billion now to complete it,” Makinde said.
The admission comes nearly six years after the governor flagged off the renovation and remodelling of the complex on September 23, 2020, under a public-private partnership arrangement. At the time, the project was expected to receive an investment of N4.9 billion and transform the once-busy commercial centre into premium commercial real estate and a four-star hotel.
Makinde had also promised at the flag-off ceremony that the complex would be ready for business within 24 months, or 104 weeks. This meant the project was expected to be completed before May 2023.
However, the redevelopment stalled, with suppliers, subcontractors and shop occupants staging a protest in January 2023 over alleged unpaid debts linked to the project. The development raised concerns about the fate of the complex and the businesses affected by the renovation exercise.
In May 2024, reports on the project highlighted continuing concerns about its completion, while the latest admission by the governor suggests that the redevelopment may extend beyond his administration, which ends in 2027.
Makinde expressed hope that a stable economic environment would make it easier to complete projects such as the shopping complex. He also said he intended to create such conditions if he became president.
The governor further disclosed that his administration is developing a roadmap to identify projects that might require continued attention after his tenure.
With the project still unfinished nearly six years after its flag-off, Makinde’s latest statement raises fresh questions about the original completion timeline, the funding arrangement, and the future of Agbowo Shopping Complex, a major commercial facility located opposite the main gate of the University of Ibadan.
