Ogun State Property and Investment Corporation (OPIC), is set to commence the development of two new estates at Siun 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 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 Oke-Mosan, Abeokuta.
Fari-Arole 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 percent of the first phase construction of 51 housing units and 80 percent of second phase at King’s Court Estate, Abeokuta.
He noted that the next fiscal year would witness the opening of internal access roads, at Agbara and new Makun City, to further enhance the sale of lands and ease the movement of occupants within the estates.
The MD revealed that the Corporation has a revenue target of N3.37b, with a total budget size of N5.7b, out of which N5.03b was earmarked for capital projects and 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 expenditure.