* Funds to be secured via Credit Guarantee from Infracredit
By Chris
The Benue Investment and Property Company Limited (BIPC) has activated modalities to secure $10 million through Shelter Afrique to build 500 Mass Housing for low-income earners in Benue state.
The facility when accessed will also be utilised to build agro commodities hub, Central logistics park, and diaspora eco-city.
This initiative is in synch with HE, Governor Hyacinth Alia’s policy focus to deliver mass affordable housing, tap into the agricultural value chain, and maximize benefits in the logistics space.
Shelter Afrique (SAf), also known as the Company for Habitat and Housing in Africa, are funds from Africa Development Bank created to exclusively support the development of the African real sector and housing sector.
The Managing Director of BIPC, Dr. Raymond Asemakaha, CFA, said the hub when achieved will create wealth for more than one million traders in the agricultural value chain, while guaranteeing uninterrupted food supplies to more than 5 million Benue inhabitants for at least 120 days, in a period of scarcity.
He further explained during a courtesy call on the management of Shelter Afrique in Abuja on Monday that the hub will have storage facilities for more than 300 trucks that will daily service the needs of thousands of operators within the food value chain throughout the year, while large commercial transactions will be processed in the facility.
It is projected that the Park will unleash the potential in both the upstream and downstream of the agricultural sector and will further reaffirm the leadership of Benue as the first destination for agricultural produce been Food Basket of the Nation.
He anticipates that the hub will be operated on an off-grid power source of 500 megawatts and is expected to provide 100,000 direct jobs.
Amenities that will come to the facility include aggregation facilities, administrative offices, trading areas, packaging facilities, processing facilities, cold chain/dry goods services, and logistics services.
Others are trailer parks, water treatment plants, health centers, fuel Station fire stations, abattoirs, and lairage.
Dr. Asemakaha, while explaining the need for the organisation to extend its services to the state, also appealed for investment in the construction of Agro Commodity Hub, Central logistics park, Electricity Market and a Diaspora Eco City.
“I’m here today to seek your partnership to build 500 units of low-income homes for our people. We’ve got a track record of building homes to address the housing deficit in the state” he said.
“I need you to improve Benue State just as you have done in Nasarawa State. So, as I go back, my team will bring forth a feasibility study to your organization, and we are sure work will commence soon,” Dr. Asemakaha stated.
He noted that the projects will bring sustainable development and unlock the Benue economy by increasing the state GDP.
In their separate responses, Usman Ibrahim, Credit Risk Analyst of Shelter Afrique, and Ikem Israel, Investment Officer, expressed willingness to partner with the company.
They outlined two models of partnership open to the company: a public-private partnership (PPP) structure and Credit guarantee Structure by Infracredit model and requested BIPC to come up with a proposal on the model it intends to adopt.
“There are two ways we can work with your organization. The PPP structure and Infracredit model. So, we are willing to partner with you in whichever way your government is willing.” Ikem assured.
