A $1.4billion Tech&Agric Incubation Hub MoU, has been Signed.

A $1.4billion Tech & Agric Incubation Hub MoU
A $1.4billion Tech & Agric Incubation Hub MoU

His Imperial Majesty Ooni Adeyeye Enitan Ogunwusi‎ (Ojaja II), the Ooni of Ife on Tuesday July 12 at his Ile Oodua Palace, signed a Memorandum of Understanding (MoU) with a U.S. based company SpringPort Technological Group. This MoU is to build a Technology, Media City and Agriculture incubation hub in the town of Osun.

This huge investment came barely two weeks to the return of the Ooni from the USA. Earlier, he had  visited the USA to seek involvement of Africans in Diaspora in his peace and unity agenda and  solicit their support for the continent on developmental projects in agriculture, tourism, infrastructure and youth development.‎

This MoU will help the agricultural & technological incubation hub worth $1.4bn in its first phase, to fascilitate massive employment of Ile-Ife youths. The startup phase for the master plan was to begin with investors in London and Asia.

While signing the MoU, the Ooni urged Nigerians in the Diaspora to come invest in their country. And he also ensured that this project wasn’t going to be a successful one.

“‎The initiative is an encouraging one and I urge the team not to relent. When I visited the USA, I met with our Diasporan people  and told them that people built USA, it did not just develop. Just like the USA citizens built America, I am glad that some Nigerians in the diaspora are also keen to the development of their mother land. 

I am totally in support of the project. ‎I have never started a project without completing it and I hope this will be completed within the stipulated time. We don’t want this to be a typical project that will start and won’t end and because of that we need to sign the MoU today. We will also be fulfilling a larger part of what is expected of us by making available the required land,” he said.

Muyiwa Onitilo, a representative of Springport Technological Group said,

“The project will deliver a modern and progressive Ile-Ife with a strong real estate, technology and infrastructure backbone. It will deliver a master planned community that will allow residents to increase their productivity.

60 per cent of those that will be employed are indigenes of the host community. This is an intiative to improve the home,”

With this incubation Hub the level of employment of Ile-Ife youths as soon as they leave school, will increase.

For more opportunities visit techcrunch-africa.com

 

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