OPIC Earmarks N5bn For Housing Projects In 2024 - EDU-BIZNEWS


Wednesday, December 20, 2023

OPIC Earmarks N5bn For Housing Projects In 2024

Ogun State Property and Investment Corporation (OPIC) has earmarked N5 billion for its various housing projects, including renovation of its event centre at Isheri axis of the State for the 2024 fiscal year 

The Special Adviser and Managing Director, Ogun State Property and Investment Corporation (OPIC), Arc. Abiodun Fari-Arole made this known while defending a total Expenditure of N6, 013, 976,973.84, to be spent by the Corporation for the incoming fiscal year.

Fari- Arole during the Budget Defence before the State House of Assembly members, at Oke-Mosan, Abeokuta, said Personnel Cost would gulp, N568,581,973.84, while Overhead Expenditure stood at N445,395,000.00 and Capital would take N5,000,000,000.00.

He expressed the determination of the Corporation  to provide and build more quality houses for subscribers in choice areas, saying the Capital Expenditure would be used to acquire more lands for new projects across the state.

The OPIC boss, represented by the Director, Finance and Accounts in the agency, Mrs. Modupeola Onanuga, listed other projects to include, renovation of its event centre at Isheri, which would be renamed, BOFT Event Centre after completion, while OPIC Plaza at Ikeja would be given a facelift, to unlock its potentials and boost the Internally Generated Revenue (IGR) of the Agency.

He added that the Corporation would also construct internal roads, industrial and residential clusters within Agbara, construction of 1.5 kilometre of internal roads at New Makun, provision of electricity at BOFT Warewa, New Makun City, among others, saying installation of CCTV cameras would beef up security in all OPIC estates in Ogun and Lagos environs.

Responding, the Chairman Finance and Appropriation Committee, Musefiu Lamide, commended the Corporation for effective service delivery.

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