The General Manager of the Osun State Government owned investment agency, Osun State Investment Company Limited (OSICOL), Mrs. H. I Amade has revealed that the agency recorded over 700% turn over in the last six years, growing its fortune from about 300million in 2011 to about 2.6billion in 2017.
The company’s balance sheet made available to OSUN DEFENDER in Osogbo revealed that the turnover represents 760% growth increment in the last six years when Aregbesola administration came on board.
One of the agency’s flagship brand, Essence Table Water has contributed significantly to the positive returns due to high demand based in its acceptance countrywide.
Amade 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.
“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.