OPIC Generates N687.78m, Expends Over N271.9m On Housing Projects in Three Months - EDU-BIZNEWS


Thursday, April 21, 2022

OPIC Generates N687.78m, Expends Over N271.9m On Housing Projects in Three Months


Ogun State Property and Investment Corporation (OPIC) says it has generated  N687.7 million  and expended N271.9million on various housing projects within three months in the state 

Special Adviser/Managing Director, OPIC, Arch. Biodun Fari-Arole  revealed these on Thursday in Abeokuta while presenting the first quarter budget performance of the Corporation before the State House of Assembly's Committee on Industry, Trade and Investment

 He explained that the Corporation generated N687.78m within the period under review through survey/building fees, development fees, administrative fees, change of ownership fees, earnings from sundry income and consultancy fees amongst others. 

According to him, N271.9m had so far been expended on various capital projects, including the King's Court Estate, Abeokuta Phase II, comprising of 12 units of 4-bedroom semi-detached duplex, 42 units of 3-bedroom semi-detached Duplex were ongoing.

Fari-Arole added that BOFT Apartment, Warewa which had 52 units of 3-bedrooms flat were being constructed in addition to the internal road at King's Court Estate, Phase II.

Responding the committee commended the management team of State Property and Investment Corporation (OPIC) on the strides recorded in its various housing projects and revenue drive for the first quarter of this year's budget performance of the corporation. 

The members of the Committee led by its Chairman, Kemi Oduwole stated that the corporation which had recorded laudable achievements in the housing sector/investment, t

The lawmakers expressed optimism that the corporation having generated 42.6% of its total revenue within three months would record more milestones before the end of the fiscal year

The Lawmakers also appraised the budget performance of the office of the State Head of Service and the State Civil Service Commission presented by Dr. Nafiu Aigoro, while that of the State Ministry of Industry, Trade and Investment, State Market Development Board and the State Agriculture Multipurpose Credit Agency amongst were presented by the Commissioner in charge of the Ministry, Kikelomo Longe.

In another development, political office holders have been tasked to continue to promote acts that would entrench good governance and promotion of safe and secure society, just as the governed are expected to always perform their civic responsibilities, unalloyed loyalty and prayers to constituted authorities. 

An Islamic cleric, Hashim Mogaji Abata, gave the task during during the 5th Annual Ramadan lecture of the State House of Assembly Muslim Community held at the Assembly Complex, Oke- Mosan, Abeokuta.

He clarified that governance involved shared and balance responsibilities between the government and the people.

Earlier in his keynote address, Speaker Oluomo, represented by his deputy, Akeem Balogun, said that the Assembly had founded the hosting of the lecture imperative as it often made muslim faithful more conscious of their expectations, thereby preparing their minds in proper perspective during and after the holy month.

In his welcome address, the Chairman, Ramadan Organizing Committee and Deputy Speaker, Akeem Balogun, represented the Majority Leader Yusuf Sheriff, stated that the purpose of fasting was to develop the quality of righteousness and abstenance from sinful deeds while controlling thoughts and desires. He added that the annual Ramadan lecture was meant to complement this period of high religious worship.

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