The Ogun State Government has distributed cheques totaling N100 million in retirement benefits to 86 retirees from Ilushin Estate Limited in the Ogun Waterside Local Government area.
According to a statement released on Thursday, the beneficiaries at the rubber plantation, Ilushin, received the checks from Bolu Owotomo, Commissioner for Agriculture and Food Security.
According to Owotomo, the payment opened a new phase in the Estate’s quest for long-term, sustainable development.
The commissioner who doubles as the chairman of the company, said, “This company has planted 157 hectares of rubber out of the 240 hectares proposed for the year, and we are targeting between 450 and 500 hectares next year.
“This is no doubt a major boost to agriculture and a significant step towards revitalising the production of rubber in the state. This also confirms that the government’s efforts at revitalising moribund companies are beginning to yield positive results.
“The payment of our 86 retirees is also a good pointer to the fact that things are getting better for this company and that the era of owing staff salaries, tappers wages, retirement benefits has now indeed become a thing of the past”.
He clarified that the company had restructured and paid off all outstanding debts to suppliers, customers, employees, and banks in an effort to better position itself for increased productivity.
Olaitan Obisanya, the Estate’s general manager, praised the commissioner for his vision, leadership, and dedication, all of which had a positive effect on the Estate and elevated it to an admirable position.
Obisanya gave his word that management would uphold its commitment to employee welfare and make sure the business kept moving forward.
Olugbenga Owogbo and Mrs. Queen Joshua responded on behalf of other retirees, thanking the commissioner for the company’s turnaround and for making people happy who had worked for the state through the company.
