Ogun State Property Investment Corporation targets N20bn revenue for Ogun State

Ogun State Property Investment Corporation, OPIC, is targeting to generate a total of N20 billion into the coffers of Ogun State government through its activities.


Babajide Odusolu, Managing Director, Ogun State Property Investment Corporation, OPIC, who disclosed this to journalists in Abeokuta, said this will mark a departure from what used to happen in the state. “This will be the first time OPIC will be remitting something to the State. Before this administration came in, they were not doing that. There were lots of gaps in the system and they were not generating that much revenue,” he revealed.

Odusolu added that in pursuance of the urban renewal programme of the Ibikunle administration, four new estates with 600 housing units are being developed across the three Senatorial Districts of the state.

Odusolu, who is also Special Adviser on Trade and Investment, disclosed that OPIC is working hand-in-hand with other relevant government agencies and ministries including Bureau of Lands and Survey, State Housing Corporation and the Ministry of Housing.

He explained that about 170 hectares of service plots have been opened up in Kobape area of Abeokuta while New Makun City in Sagamu area has over 750 hectares of both housing and service plots. In Plain Field in Abeokuta township, Odusolu explained that about 120 housing units of affordable housing units were reaching completion while in Orange Valley also in Abeokuta 140 housing units will soon be ready for use.

The OPIC boss said the government has also embarked on 200 cheaper and affordable housing units at Workers Community estate, Laderin in Abeokuta while 100 units of bungalows are also on-going inside Agbara Estate, also known as New Agbara Estate.

According to him, all the on-going projects are to be delivered within the 12 to 18 months maximum window. “In New Makun Estate in Sagamu, we are going to be doing minimum of 100 units in the first phase. We should be starting in the second half of this year. Those are going to be a hybrid because of people that may want to relocate from Lagos. We have a medium term plan for this year, we are going to be doing 100 units cumulative and every year we are expected to be doing multiples of that,” Odusolu stated.

On the activities of the land grabbers in the state, Odusolu said the government has been able to claw-back over 300 hectares of land in the in Agbara area, adding that, the major focus of the Corporation is to create an enabling environment for investors who will return back through tariff and taxes.

“In Agbara when I took over, what they told me was that we had just 200 hectares out of 3000 hectares, in one of the prime locations in Agbara, Area 4. I was told that all we had left was about 2 hectares. As of today, in Area 4, we have over 20 hectares claw-backs, in Area 8, I was told we had about 20 hectares available, in that area we have over 150 hectares claw-backs. People were not stealing, but inefficiency, negligence and lack of understanding because lands were being reserved for people when the affected people have even forgotten having a property in the area”.

Anthony-Claret Onwutalobi
Anthony-Claret Onwutalobi
Anthony-Claret is a software Engineer, entrepreneur and the founder of Codewit INC and CEO of Portia Web Solutions. Mr. Claret publishes and manages the content on Codewit Word News website and associated websites. He's a writer, IT Expert, great administrator, technology enthusiast, social media lover and all around digital guy.

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