The State Government of Osun has grown the balance sheet of its investment agency, Osun State Investment Company Limited (OSICOL) to N2.6bilion. The figure represents an increase of 760% in the last six years.
It was learnt that the opening balance of the agency increased from about N300m in 2011 when the Aregbesola government came on board to a sum of N2.6b in 2017.
In a briefing over the weekend, the company noted that one of its products, Essence Table Water, has significantly pushed its revenue base.
The company said this was realistic such that it recorded huge profit on the production of the table water as it is circulated and accepted across the country.
Speaking on the achievements of OSICOL, The General Manager, Mrs Amade H.I stated that the improvement was achievable through Governor Rauf Aregbesola’s unflinching support for the company’s course.
She said “In line of producing healthy water, most water company failed to avoid the presence of mercury in their processed water. Mercury, an element which naturally is found in air, water and soil can cause serious damage to the body when exposed to even a little of the substance.
“When exposed to mercury, the nervous, digestive and immune systems, lungs, kidney and even the skin might be affected. Mercury also exists in various forms (metallic, inorganic and organic) and these forms determine the extent of health hazard on people exposed to it.
“This is what our company has prevented in the production of our table water and it has become a driven force to our impressive revenue annually”, she added.
Mrs Amade attributed the tremendous improvement in the company’s revenue base to Governor Rauf Aregbesola’s determination and dynamism adding that the company has sustained the acceptability strength of its table water production as it is now one of the leading brands in the array of similar products in the south western Nigeria.
The OSICOL General Manager revealed that medical experts have seen and acknowledged the quality of the water production just as it is being recommended for use in hospitals as well as it is makeup derived from well researched materials.
She attributed the wide acceptance of the product as well as the recommendation given by the medical practitioners to mercury free value which she said has distinguished it in market.
“Aside OSICOL Water, the company has nearly completed the biggest gas station in Osogbo, the Osun State capital, delved into real estate with properties in Lagos and Abuja, the federal capital territory coupled with about 526 hectares of land in cultivating cocoa in Ibokun.
“The Osun State Investment Company Limited has also won several awards and recognition in commemoration of its excellence in being one of the leading Investment platforms in the south western part of the country.
“OSICOL has embarked on diverse business ventures as part of efforts to boost the state’s internally generated revenue drive, create wealth and sustain its economic self-reliance.
“The company which was established in 1991 has various business interests, among them, are manufacturing, bulk purchasing, training and consultancy, sales and distribution, real estate, agriculture among others”, she affirmed.