OPIC to build additional housing estates, others next year - THE NEW DAWN ONLINE

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Wednesday, December 16, 2020

OPIC to build additional housing estates, others next year




Ogun State Property and Investment Corperation (OPIC) is set to commence the development of 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 said this 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 session by Ministries, Departments and Agencies of Government held at the Assembly Complex, Oke-Mosan, Abeokuta.

He added that the Corporation being a predominant player in the nation's emerging property market with housing facilities across the frontier town of the State, 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 noted 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.

The General Manager revealed that the Corporation has a revenue target of N3.37bn, with a total budget size of N5.7bn, out of which N5.03bn was earmarked for capital projects and the remaining N744m for recurrent expenditure in the next fiscal year.     

In the same vein, the State Commissioner for Industry, Trade and Investment, Mrs. Kikelomo Longe proposed a budget size of N774.7m for the next fiscal year, out of which N116m would go for capital expenditure, while N658.4m was earmarked for recurrent.

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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