Osun State Government says it has partnered with Smart City Plc to drive innovation, economic growth, and improved quality of life through a public-private infrastructure initiative aimed at transforming the state’s industrial landscape.

Governor Ademola Jackson Nurudeen Adeleke’s administration signed a Memorandum of Understanding (MoU) with Smart City Plc on 28 May 2025, positioning the state to attract investment and create over 100,000 direct jobs, according to government officials.

The agreement forms part of Governor Adeleke’s industrialisation agenda, which targets investments across infrastructure, technology, health, education, agriculture, commerce, and industry, Rev. Bunmi Jenyo, Commissioner of Commerce and Industry, Osun State, says in a statement seen by Technology Times.

Smart City Plc to spearhead deal under PPP model

Smart City Plc, a Nigerian investment and infrastructure company based in Ikoyi, Lagos, specialises in real estate development, smart urban planning, and emerging technologies. The firm is spearheading the public-private partnership (PPP) model backed by the Osun State Government.

Speaking during the MoU signing on behalf of the state, the Osun State Commissioner for Commerce and Industry, expresses satisfaction that the initiative is now moving from concept to execution. Jenyo acknowledges the support of government agencies that contributed to bringing the deal to fruition.

Demola Aladekomo, Chairman of the Board of Directors at Smart City Plc, who signed the agreement on behalf of the company, describes the moment as timely for translating a long-held vision into tangible outcomes.

The Smart City project, located within the Living Spring Free Trade Zone in Osun State, includes an affordable housing scheme for salary earners, and is projected to generate substantial employment and revenue opportunities.

According to both parties, the development will enhance Osun State’s attractiveness on the global investment map and position it as a hub for foreign direct investment (FDI).

The initiative follows Osun’s 2024 Industrial Investment Summit, where state officials say several investors expressed interest in tapping into the state’s growing economic potential.