Retail revolution ushers in new shopping experience in Ibadan

The retail revolution sweeping across major Nigerian cities has hit Ibadan, the capital of Oyo State, bringing new shopping experience to the residents of the ancient city where Odua Investment Company recently commissioned its Heritage and Cocoa Malls.

The two malls estimated to have cost N3 billion were commissioned by Abiola Ajimobi, the Oyo State governor who promised to continue to provide conducive and enabling environment that would attract both local and foreign investors to the state.

The Heritage Mall, wholly financed by Odua Investment and designed by ab.dt partnership with Cappa D’alberto as major contractor, cost, N2 billion to build while the Cocoa Mall,  a partnership arrangement between Odua and Top Services. Limited was built at the cost of N1 billion.

Managing Director of Odua Investment Company, Jimoh Adebayo,  said the development of the malls was borne out of perceived need or demand by high net-worth individuals in the South West who spend time and money travelling to Lagos at weekends to shop.

He noted  that the new malls, by statistics and  standards, meet international specifications, saying  that these explain why international brands such as Shoprite,Mr Price, Cash and Carry,The film House ,Samsung,  Lifemate  Furniture, KFC, Slot among others are there as anchor tenants.

Adebayo stated that since the commencement of operation by the brands,  the malls had witnessed tremendous number of visitors who daily throng in to purchase various items.

He said  that the building of the malls have led to empowerment and creation of jobs in Ibadan and its environs,  noting that over 2,000 jobs have been created for people and “more are still coming when the malls are fully operational”.

The Chairman of Odua,Sharafadeen Alli, said the commissioning of the malls will make things happen in turning around positively the economic situation of the South West states of Nigeria.

“I have the belief that there will be a replication of these malls in the remaining states that make up Odua in the near future” .

Governor Ajimobi said his administration has created an environment of peace as against what he met when he took over the mantle of leadership in the state, assuring that he would make Oyo state business and leisure friendly for citizens and investors.

“My regime has  embarked on massive infrastructure development and beautification of the  environment to  allow investors invest in the state”, he said,  saying that his government will continue to  partner with private sectors, international and donor agencies to develop the state.

According to him, the building of the malls by Odua was in tandem with his transformation agenda, assuring also that the state would complement what Odua has done with plans to build an hotel to be owned by the state at the back of Premier Hotel.