HOUSING CORPORATION GENERATES OVER 800 MILLION IN SECOND QUARTER

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The Ogun State Housing Corporation says it has generated revenue worth Eight Hundred and Ninety Eight Million, Two Hundred and Seventy One Thousand, Six Hundred and Seventy Two Naira (N898, 271, 672. 00) between January and June, 2019.

The Acting General Manager of the Corporation, Mr Akinwale Ojo, disclosed this when the Ogun State House of Assembly Committee on Lands and Housing led by its Chairman, Hon. Damilola Soneye, visited the agency to appraise the 2019 Budget Performance in Abeokuta.

According to him, the corporation recorded the amount which represents 39.92 percent of the 2.250 Billion naira proposed for the 2019 fiscal year, stating that Seven Hundred and Thirty Four Million Naira (N734,000,000.00) realized from sales of Housing surpassed the projected Five Hundred and Eighty Two Million Naira (N582,000,000.00) for the entire budget period.

Other revenue generated according to Mr. Ojo, included Fifty Eight Million Naira, from Plot Allocation and Layout fees, as well as Rent Premium Allocation of Land through which Twenty One Million Naira (N21,000,000.00) was realized, representing 70 percent of the targeted revenue.

On recurrent expenditure, Ojo noted that Sixty Million Naira (N60,000,000.00) was expended on staff salary between January and June this year while the overhead cost gulped Forty One Million Naira (N41,000,000.00) within same period.

Responding, Hon Soneye expressed satisfaction with the budget performance reports, charging the corporation to put more efforts in order to meet the set target.


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