A real estate expert and founder of Wardiere Oamount, Daimond Ilori, has said the upgrade of Ibadan International Airport is anticipated to spark a significant surge in investments across the region.
He also said the upgrade would transform Ibadan into a major commercial hub, attracting multinational companies and boosting the local economy.
Speaking through a statement on Tuesday, Ilori described the move as a wise decision from both the Oyo State Government and the Federal Government.
“The enhanced airport facilities will facilitate smoother trade operations and foster stronger business relationships with international partners. This development aligns with the government’s broader economic diversification strategy, aiming to reduce dependency on oil revenues and promote sustainable growth through infrastructure improvements and investment incentives”, Ilori said.
The real estate expert added that aside from Lagos, Ibadan is at a vantage position to welcome investment into the country considering its economic viability, land size and historic richness Ibadan prides itself as the seat of the then western region.
Ilori promised to support the Federal Government and the Oyo State in building and making plans to engage international allies who are ready to expand the city with world-class master communities.
The statement read, “Oyo state will soon become a state that everyone would be eager to visit and invest in. Once investors can access their flourishing investment easily through air transport, the investment will always multiply in such locations.
“Even in the real estate industry, there will be a boom, because Nigerians especially Ibadan and Oyo indigenes living abroad will be eager to build and also invest in Nigeria and particularly in Oyo State. It is not rocket science. This is a practical thing to happen.
“It was just as if my people overseas have been waiting to hear such an announcement, they are happy and willing to rush home to invest and also build their home here.”
The improved infrastructure is expected to bolster various sectors, including real estate, hospitality, and retail, as businesses position themselves to capitalize on the increased flow of travellers and commerce.
He said ‘With plans to introduce international flights, the airport’s expansion aims to enhance connectivity and accessibility, making Ibadan a more attractive destination for both local and foreign investors.’
President Bola Tinubu had earlier approved the move to upgrade the Ibadan Domestic Airport, Alakia, to an international airport recently following the request by Governor Seyi Makinde.
This development was made known by Makinde, through a short video posted on social media.
According to Tinubu’s Special Assistant on Social Media, Segun Dada, the Ibadan airport had never been upgraded since it was built in 1982, and it is expected to be upgraded with modern facilities because of the state’s potential to attract economic development.
Following this presidential nod for the upgrade, professionals in the industry had kicked over the sustainability of an international airport in the capital of Oyo state.