The Post Service Housing Development Limited (PHDL) owned by the Nigerian Army has signed a public private partnership agreement with Betoniq West limited to develop a total of 322 post service housing units worth N7.5 billion in Otukpo Local Government Area( LGA) of Benue state.
The Managing Director, PHDL, Brig-Gen Bashir, signed the partnership agreement with the chairman, Betoniq West Ltd, Air Vice Marshal (AVM) Monday Morgan (rtd) while briefing journalists in Abuja on Thursday.
Bashir said the Otukpo housing estate will grant civilians and military equal chance of acquiring a house.
He noted that Chief of Army Staff (COAS), Lt-Gen. Tukur Buratai, had declared that allocation should be based on a 50:50 ratio to accommodate the civil component.
To consolidate gains, Bashir said the COAS directed that the company should expand its operations by embarking on a Public-Private Partnership (PPP) projects.
Also speaking, the Chairman of Otukpo Local Government Council, Mr. George Alli, noted that Otukpo LGA, Ohimili LGA and Benue as a whole will benefit greatly from the project.
Alli said: “It is going to create a lot of employment opportunities for the Idomas and Benue people. The employment opportunity will have a multiplier benefit. It is going to reduce crime rate because the youths both skilled and unskilled will be gainfully employed.
“This will boost the economy of Idoma nation and Benue state”.
In the same vein, Morgan noted that the location of the project is strategic due to the emergence of a new barrack. He added that it will unite the Otukpo LGA and Ohimili LGA, which will help checkmate insecurity in the area .
He said the development of housing estate, which will last for 24 months, will consist of duplex, bungalow and flats to cater for different strata of the society.
“To further strengthen collaboration with the civil society, the company will soon open up and sell shares to the public,” he said.
PHDL is a company established in 1996 and has been engaged in the provision of retirement homes to teeming service men and members of the general public. The company has developed over 3,000 housing units in addition to thousands of services plots.