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OPIC Generates 42.6% Revenue For Q1 In Property, Housing Sector


April 25, (THEWILL) – The Ogun State Property and Investment Corporation (OPIC) has generated 42.6 per cent of its total revenue in various housing projects for the first quarter of 2022 budget.

The Committee on Trade, Industry and Investment of the Ogun State House of Assembly disclosed this while lauding the corporation of its milestones recorded in housing sector within three months

The committee, led by Hon. Kemi Oduwole, made the commendation on OPIC’s management team during the ongoing 2022 budget performance appraisal at the Assembly Complex, Oke-Mosan, Abeokuta,

The lawmakers, who declared that the corporation had recorded laudable achievements in the housing sector/investment within 12 weeks by generating 42.6 per cent of its total revenue, expressed optimism that it would do more before the end of the fiscal year.

While presenting the budget performance, the Special Adviser/Managing Director, OPIC, Arch. Biodun Fari-Arole said that the corporation generated N687.78m within the period under review.

Fari-Arole added that 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.