The Oyo State Executive Council has approved N850m as investment in the Oyo Sugarcane Processors Limited, Iseyin, through the state-owned Pacesetter Holdings Limited.
It also approved N500m as a capital grant for Abiola Ajimobi Technical University, Ibadan.
These were parts of the outcome of the weekly council meeting disclosed to journalists during a briefing jointly addressed by the Commissioner for Information, Dotun Oyelade, and his counterpart from the Ministry of Education, Science and Technology, Saliu Adelabu, at Secretariat, Agodi, Ibadan, on Tuesday.
Oyelade said the government also increased the number of vehicles for Operation Burst to 60.
The commissioner said this was a result of the procurement of 40 extra security vehicles for the agency.
He said other security arms like the army, the police, and civil defence, among others, were also given additional vehicles.
He further stated that already, the state Amotekun had the largest number of security vehicles with 150 for its operations, the largest number of personnel of about 2,000 and the best paid in southwest Nigeria.
“The State Executive Council has approved N850m as an investment in the state Sugarcane Processors Limited, Iseyin, through the state-owned Pacesetter Holdings Limited.
“The sugar plant currently valued at N4.9bn is at 90 per cent completion, and will be completed next year.
“By investing in the project, the state’s economy will be stimulated with the injection of 3,000 direct and indirect job opportunities,” he said.
Adelabu said, “The state Executive Council approved half a billion naira as a capital grant for Abiola Ajimobi Technical University, Ibadan.
“The N500m grant would aid the accreditation of the institution’s new and old programmes for the 2024/2025 academic session by the National Universities Commission.
“The government also approved over N900m as a counterpart fund to partner with the World Bank who had earlier donated N1bn to the state through the Better Education Service Delivery For All.”
He stated the funding aimed to boost education development in the state and would be used to eradicate out-of-school children and upgrade infrastructure and school structures across the state.