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Impact Of Banking Recapitalization On Real Estate Sector
[A CASE STUDY OF OSOGBO, THE CAPITAL OF OSUN STATE]
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1.7 HISTORICAL BACKGROUND OF OSOGBO
In Yoruba mirth, Osogbo as a historical town was founded by Osun a river of goddess and wife of legendry king Sango of the ancient Oyo Empire Osogbo’s prominence as an important tourist attraction stems from the Osun River where the Osun grooves and shrine are both located. As early as 1929’s Gesman Art connoisseurs stated flocking to Osogbo to afford themselves of the fertile Osogbo art in Textile design and fertility frame evidence in sympathetic magic in the Osun goddess. Little wonder, Osogbo is praised as Osogbo Ilu-aro, Oroki asala, “Osogbo the town of dye, Oriki the one that embraces allâ€
Notable among these Germans Swan Wenger who was the moving figure behinds the imbari art movement was a training ground for performing literary and visual artistes who were later bestrode the artistes framament like colluses.
The point being chorused is the fact that Osogbo has always played lost to visitors and thus have compelled the need for terminal expansion and accommodation beckoning. At another level, with the contact of British colonial administration, Osogbo became a prominent town as the capital of Osun division which was home to the colonial representatives in the area.
To crown it all commerce becomes centred in Osogbo with the coming of J. B Olivant, Peterson Zochonis and Royal Niger company later UAC, Mr. Bigg’s, Species and enactment of Banks like bank PHB, Spring, Intercontinental bank, Pacific, UBA, Zenith all extended there merchandize tentacles in the city.
The coming of Railway and sitting if terminus at Osogbo also share up into the compelling housing need at the city. By the way, employees of various government and non-government organizations settled down in Osogbo and necessitated an accelerated, affordable medium size low income housing need.
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