From Scholastica Hir, Makurdi
The Benue Investment and Property Company Limited (BIPC) has initiated plans to secure 10 million US Dollars through Shelter Afrique to build 500 mass housing units for low-income earners in Benue State. The project will also include an agro commodities hub, Central Logistics Park, and a diaspora eco-city.
The Managing Director of BIPC, Dr. Raymond Asemakaha, disclosed this after a courtesy call on the management of Shelter Afrique in Abuja.
According to him, the initiative aligns with Governor Hyacinth Alia’s policy focus on delivering affordable housing, tapping into the agricultural value chain, and maximizing benefits in the logistics sector.
Shelter Afrique (SAf), also known as the Company for Habitat and Housing in Africa, receives funds from the Africa Development Bank to support the development of Africa’s real estate and housing sectors.
Dr. Asemakaha stated that the hub would create direct wealth for more than one million traders in the agricultural value chain while ensuring uninterrupted food supplies to over 5 million Benue residents for at least 120 days during periods of scarcity.
“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, being the Food Basket of the Nation.
“The hub will be operated on an off-grid power source of 500 megawatts and is expected to provide 100,000 direct jobs,” he said.
Dr. Asemakaha also listed the amenities that the facility will include: aggregation facilities, administrative offices, trading areas, packaging facilities, processing facilities, cold chain/dry goods services, and logistics services. Other amenities will include trailer parks, water treatment plants, health centres, fuel stations, fire stations, abattoirs, and lairage.
Explaining the need for the organization to extend its services to the state, Dr. Asemakaha appealed for investment in the construction of the 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.
“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,” Asemakaha stated.
He noted that the projects would 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 partnership models open to the company: a public-private partnership (PPP) structure and a credit guarantee structure by the Infracredit model. They requested BIPC to propose the model it intends to adopt.