OPIC To Build More Housing Estates In Ogun - EDU-BIZNEWS


Wednesday, December 16, 2020

OPIC To Build More Housing Estates In Ogun

Ogun State Property and Investment Corperation (OPIC) will be developing  two new estates at Siun Axis and Ijebu Ode- Epe axis of the State as part of its renewed efforts towards providing affordable housing for the public in a serene and secured environment in the next fiscal year.

The Special Adviser/ Managing Director of the OPIC, Arch. Abiodun Fari-Arole disclosed this on Wednesday while defending the 2021 budget estimate of the Corporation before members of the State House of Assembly Committee on Finance and Appropriation led by Hon. Olakunle Sobunkanla at the on-going budget defence by the Ministries, Departments and Agencies MDAs in Abeokuta.

Fari-Arole who described the Corporation as a predominant player in the nation's emerging property market with housing facilities across the frontier town of the State, assured that OPIC would complete the remaining 10%  construction of the remaining 51 housing units and 80% of second phase of housing at King's Court Estate, Abeokuta.

He expressed confidence  that the next fiscal year would witness the opening up of internal access road at Agbara and new Makun city to further enhance the sales of lands and ease the movement of occupants within the estates.

According to him, the Corporation has a revenue target of N3.37billion, with a total budget size of N5.7billion, out of which N5.03billion was earmarked for capital projects and the remaining N744million for recurrent expenditure in the next fiscal year.     

Also the State Commissioner for Industry, Trade and Investment, Mrs. Kikelomo Longe proposed a budget size of N774.7million for the next fiscal year, out of which N116million would go for capital expenditure, while N658.4million was earmarked for recurrent expenditure.

Longe also presented the budget estimates of the State Market Development Board, State Agricultural Multipurpose Credit Agency, ( OSAMCA) State Food Crops Marketing Board and State Investment Promotion and Faciltation Agency for the next fiscal year.

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