The Ogun State Property and Investment Corporation (OPIC) is set to construct 401 additional housing units in some parts of the state in 2020.
This is just as the agency proposed that it will expend N9.272bn for the new fiscal year in order to actualise her vision as a dominated player in the nation’s emerging property market.
The Ag. Managing Director of the Corporation, Ibiyemi Adesoye, stated this at the Ogun State Assembly Complex, Oke-Mosan, Abeokuta on Wednesday during the on-going 2020 budget defence by Ministries, Departments and Agencies.
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Adesoye told the lawmakers led by Chairman, House Committee on Finance and Appropriation, Hon. Olakunle Sobukanla, that the construction of the 2 and 3 bedroom bungalow housing projects would gulp N4.103bn.
She added that 151 units will be situated in Abeokuta, 150 units in Sagamu, 50 units in Ijebu and the remaining 50 apartments in Remo axis.
Adesoye also noted that N7.75bn is proposed for capital projects while N1.522Bn is earmarked for recurrent expenditures including salaries and other overhead.
Adding that the agency’s N16.5bn revenue target would be sought through contractors’ registration fee, tender/deeds registration fees, development fees and proceeds from sales of buildings amongst others.
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