ABU SIGNS AGREEMENT FOR CONSTRUCTION OF 1600-BED SPACE STUDENT HOSTELS UNDER PPP ARRANGEMENT 14-04-24
By Sadiq Aminu
ABU Signs Agreement For Construction Of 1600-Bed Space Student Hostels Under PPP Arrangement
TETFund To Pay 25% Of Project Cost, While APPNL To Provide 75% If Counterpart Funding
Ahmadu Bello University has signed an agreement with the Student Housing Company Limited for the development of one thousand and six hundred bed space hostels in the institution under a Public Private Partnership arrangement.
Speaking at the event, the Vice-Chancellor, Prof. Kabiru Bala, expressed delight over the development and assured that the project would greatly help stem the huge shortfall in the availability of good accommodation for students of the institution.
Earlier in his remarks on the scope of the project, the Head, Public Private Partnership Unit, Ahmadu Bello University, Dr. Mu’awiya Abubakar, explained that the project was facilitated by TETFund.
Dr. Abubakar also explained that ABU is one of the six public universities across the six geo-political zones of Nigeria that will benefit from the national student housing project.
Also speaking, the Head, Deal Origination and Investment, Africa Plus Partners Nigeria Limited, Dipo Lawore, pointed out that the development of the one thousand and six hundred bed space student hostels for Ahmadu Bello University would be completed in twelve months time.
The Africa Plus Partners Nigeria Limited is a Securities and Exchange Commission licensed specialist infrastructure asset management company with a mandate to invest an optional mix of debt and equity in strategic infrastructure projects within Nigeria and sub-Saharan Africa.
The funds currently have a financing capacity in excess of two hundred and twenty billion naira sourced majorly from Nigerian Pensions Fund Administrators and other institutional investors.
As a fund manager, the Africa Plus Partners Nigeria Limited has originated and successfully developed various projects in Nigerian infrastructure space executing various projects in student housing, transportation, renewable energy, power and a host of others.