Ogun state property and investment corporation (OPIC) is to spend 4.1 billion naira on construction of 401 low cost housing units across the state in 2020.
The multi billion naira projects include 151 units of housing projects comprising of two and three bedrooms bungalows to be sited at Alamala in Abeokuta, the state capital, as well as 150 units in sagamu, 50 units in Ijebu Ode while 50 units will be in other parts of remo axis.
Acting managing director of Opic, Mrs Ibiyemi Adesoye, made this known in Abeokuta while defending the corporation’s 2020 budget of 9.272 billion naira before finance and appropriation committee of the state house of assembly.
She explained that 7.75 billion naira was set aside for capital projects while 1.522 billion naira will be expended on recurrent expenditure including salaries and other overheads.
OPIC, according to her, has projected 16.5 billion naira as revenue to be generated from contractors’ registration fee, tender/deeds registration fees, development fees and proceeds from sales of building among others.
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