The Ooni of Ife, His Royal Majesty, Oba Adeyeye Enitan Ogunwusi‎ (Ojaja II) has signed a Memorandum of Understanding (MoU) with a U.S. based company SpringPort Technology Group to build a Technology, Media City and Agriculture Incubation Hub in Ile-Ife, Osun State.

SpringPort Technology Group is said to consist of Nigerians in diaspora looking to change the landscape through quality investment and partnerships. At the signing of the MoU, representative of the Group, Muyiwa Onitilo of Principle Technologies explained that “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”.

Mr Muyiwa added that similar initiatives helped India to generate over 8 million employments, with the first phase of the agriculture hub projected to create employment for 1000 youths in Osun State.

With the signing of the MoU, the technological hub which is worth $1.4bn in its first phase is expected to begin with investors in London and Asia; and then subsequently, the MoU would be presented to Elliot Jones representing Maya Angelo Foundation, Jason Harrison of Tredic Corporation UK and some other American/Asian investors.

The Ooni who was also upbeat about the economic importance of the hub to the people of Ile-Ife said: “The initiative is an encouraging one and I urge the team not to relent. When I visited the USA, I met with our people in diaspora 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.”

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A picture of the Ooni prior to ascending the throne

He furthered by saying that he will make available the required expanse of land as he expects the project to be completed within the stipulated time.

Before ascending throne, the Ooni of Ile-Ife cut throw corporate Nigeria as a notable entrepreneur with feats in real estate. Just within the last 8 years he contributed to the development of over 2,500 housing units with various consortia of developers.