A Review of the Nigerian Energy Industry

NNPC Estate: Govt, BASAP Ventures sign MoU to deliver 15,000 housing units

12 March 2014, Lagos – The Federal government, BASAP Ventures International Ltd and JS Neoplans and Artemis Angels Global ltd have signed a Memorandum of Understanding (MoU) to construct 15,000 housing units for the Nigerian National Petroleum Corporation (NNPC) staff across the country. Thirty percent of the houses will be reserved for the ministry staff, the agreement stated.

The Public Private Partnership (PPP) initiative, according to the promoters, will attract over $1.5 billion into the project and is due for completion in the first quarter of 2016. The ministry, THISDAY gathered, has allocated land for construction of 2000 units in Gwagwalada area of the Federal Capital Territory in the agreement.

Speaking on behalf of government at the signing ceremony, the Minister of Housing, Lands and Urban Development, Mrs. Akon Eyakenyi, said the MoU which is in tandem with the transformation agenda of the federal government is to provide affordable houses for Nigerians.

She said: “The transformation agenda indeed begins with the housing the development as we all know the interest of the present administration to provide decent houses for Nigerians and to ensure that this comes to fruition we have been relating very well with the private sector and today again we have these patriotic investors in the housing development sector.

The partnership between these two bodies is for the development of 15,000 units of highly affordable low and medium houses across the country and particularly 2000 housing units in the Gwagwalada site at the Federal Capital Territory (FCT).”

She said the ministry is glad to know that BASAP and JS Neoplans and Artemis Angels is a mass housing entity and developer that specializes in the provision of holistic solutions to integrated community development.

“It is instructive that they are into finance designs construction and sale of affordable houses for already sourced up-takers that they have on the ground. The MoU signing today marks another milestone in our dogged resolve to provide affordable and sustainable houses in safe and secured environment for the masses in furtherance agenda of President Goodluck Jonathan.” the Minister stated.

In order to deal with the deficit in the housing sector, Eyakenyi added that the sector is being revitalized through the development of a new policy framework and long term action plans and we have also stepped upefforts in partnering with investors and other key stakeholders in the urban and development sector in order to ensure that all work together to address the acute shortages in the country within the shortest possible time.

Today’s signing of the MoU between the ministry and the Group is aimed at deepening and fulfilling the president’s promise to impact and transform the country in all aspects of life most especially through mass production of affordable houses to the citizenry within the next 365 days.

She said: “I wish to emphasis to that the ministry will continue with investors to reposition the sector for improved and efficient housing delivery to the majority of Nigerians especially the low income earners. I therefore call on willing developers to come onboard with us in the housing delivery agenda of government.”

Speaking after the signing ceremony, the Leader of delegation, Prophet Ayorinde Samson, assured that the houses will be delivered at an affordable cost on completion, adding that the standard will be in conformity with the Nigerian Mortgage Refinance Company (NMRC) scheme which is fixed for N8 million.

He said: “What we will be taken further into the rural areas will be far lower than that. It is a pleasure that the company is able to provide houses for teeming Nigerians and we will make sure that we are tandem with the transformation agenda of this administration in housing provision for the masses.”

– This Day

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