Ogun Property and Investment Corporation (OPIC) has generated N1.6 billion revenue between January and October 2020.
Mr. Abiodun Fari-Arole, OPIC General Manager, disclosed this on Wednesday while defending the 2021 budget proposal of the corporation before the State House of Assembly Committee on Finance and Appropriation in Abeokuta.
Fari-Arole said that the corporation had a revenue target of N3.37 billion, with a total budget size of N5.7 billion.
He said that of the total budget proposal, N5.03 billion was earmarked for capital projects and N744 million for recurrent expenditure.
Fari-Arole added that OPIC would commence the development of two new estates at Siun and Ijebu Ode- Epe areas of the state to ensure affordable housing for the public in a serene and secure environment.
He disclosed that the next fiscal year would witness the opening up of internal access roads at Agbara and new Makun City to further enhance the sale of land and ease the movement of occupants within the estates.
In the same vein, the state Commissioner for Industry, Trade and Investment, Mrs Kikelomo Longe, defended a budget size of N774.7million for the ministry in 2021.
Longe said that N116 million would go for capital expenditure, while N658.4 million would be earmarked for recurrent expenditure. (NAN)
