The Ogun State House of Assembly Committee on Industry, Trade and Investment has 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 the Chairman, Kemi Oduwole, gave the commendation during the ongoing 2022 budget performance appraisal held at the Assembly Complex, Oke-Mosan, Abeokuta.
He stated that the corporation which had recorded laudable achievements in the housing sector/investment, 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.
Presenting the budget performance, the Special Adviser/Managing Director, OPIC, Arch. Biodun Fari-Arole said 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.
Biodun noted that N271.9m had so far been expended on various capital projects, adding that 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.
He 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.
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.
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