The Ogun State Government has paid 86 retirees of Ilushin Estate Limited in Ogun Waterside Local Government area of the state a sum of N100 Million as their retirement benefits.
Presenting the cheques at the rubber plantation, Ilushin, Commissioner for Agriculture and Food Security, Bolu Owotomo, said the payment marked a new chapter in the Estate’s journey towards sustainable growth and development.
Owotomo, who is also the chairman of the company, noted that the company had planted 157 hectares of rubber out of the 240 hectares proposed for the year, and is targeting between 450 and 500 hectares next year.
He noted that the company has restructured and paid off all outstanding debts to suppliers, customers, employees, and banks in an effort to put it in a position where it could be more productive.
“The era of owing staff salaries, tappers wages, retirement benefits has now indeed become a thing of the past”, he said.
In his remarks, the estate’s general manager, Olaitan Obisanya, praised the commissioner for his vision, leadership, and dedication, and pledged that the management will continue to be dedicated to the welfare of the personnel.
Mr Olugbenga Owogbo and Mrs. Queen Joshua responded on behalf of other retirees, thanking the Commissioner for changing the company’s mindset and making them happy.