OPIC generates N687.78m in 3 months, gets lawmakers commendation

By Kolawole Olayinka, Abeokuta

Special Adviser/Managing Director, Ogun State Property and Investment Corporation (OPIC), Biodun Fari-Arole said the Corporation generated N687.78million within the first quarter of 2022.

The amount was generated through survey/building fees, development fees, administrative fees, change of ownership fees, earnings from sundry income and consultancy fees amongst others. 

Fari-Arole spoke before state House of Assembly Committee on Industry, Trade and Investment at the

ongoing 2022 budget performance appraisal held at the Assembly Complex.

He noted that N271.9million has so far been expended on various capital projects, adding that the King’s Court Estate, Abeokuta Phase II, comprising of 12 units of 4-bedroom semi-detached duplex, 42 units of 3-bedroom semi-detached Duplex were ongoing.

Fari-Arole added that BOFT Apartment, Warewa which has 52 units of 3-bedroom flat were being constructed in addition to the internal road at King’s Court Estate, Phase II.

The committee commended the OPIC management for the feat recorded so far in its various housing projects and revenue drive. 

Committee Chairman, Kemi Oduwole expressed optimism that the corporation having generated 42.6% of its total revenue within three months, would record more milestones before the end of the fiscal year.

The lawmakers also appraised the budget performance of the office of the Head of Service and the Civil Service Commission, presented by Dr. Nafiu Aigoro, while that of the Ministry of Industry, Trade and Investment, Market Development Board and Agriculture Multipurpose Credit Agency amongst were presented by the Commissioner in charge of the Ministry, Kikelomo Longe.

Meanwhile, political office holders have been tasked to continue to promote acts that would entrench good governance and promotion of safe and secure society, just as the governed are expected to always perform their civic responsibilities, unalloyed loyalty and prayers to constituted authorities. 

An Islamic cleric, Hashim Mogaji Abata, gave the task during the 5th Annual Ramadan lecture of the state House of Assembly Muslim Community held at the Assembly Complex, Oke- Mosan, Abeokuta.

He noted that governance involved shared and balance responsibilities between the government and the people.

Earlier in his keynote address, Speaker Oluomo, represented by his deputy, Akeem Balogun, said the hosting of the lecture was imperative as it often made Muslim faithful more conscious of their expectations, thereby preparing their minds in proper perspective during and after the holy month.