Ogun State Property and Investment Corporation (OPIC) has proposed the sum of N5.637 billion as its total expenditure for housing development in the state in 2015, with N5.2 billion committed to capital projects.

Managing Director, OPIC, Jide Odusolu, said while defending the corporation’s budget before the State House of Assembly Committee on Finance and Appropriation, that out of the proposed sum, N437million would be expended on recurrent expenditure while N5.2 billion would be disbursed on capital projects. He noted that a sum of N217 million would be spent on personnel, and N220 million on overhead costs while the revenue target was put at N14.127 billion for the fiscal year.

Odusolu assured that the agency was poised to undertake the development, construction and management of housing, both residential and industrial estates within the OPIC estates.