Infrastructure plays a pivotal role in driving the development and prosperity of nations. In Nigeria, like elsewhere, the availability of robust infrastructure such as roads, power, healthcare, and housing serves as a barometer for economic vitality. Addressing the country’s substantial infrastructure deficit, estimated at over $100 billion annually for the next three decades, requires collaborative efforts beyond the scope of government resources alone. Public-Private Partnerships (PPPs) emerge as a viable solution to bridge this gap.
While Nigeria has seen both successes and setbacks in the realm of PPPs, Nasarawa State has embarked on a transformative journey under the leadership of Mr Abdullahi A Sule, who assumed office as the Governor in 2019. With a background in the private sector, Mr Sule recognised the imperative of engaging the private sector to drive Nasarawa’s development agenda. Central to this vision was the creation of the Nasarawa State Investment Development Agency (NASIDA), led by Managing Director, Ibrahim Adamu Abdullahi.
NASIDA wasted no time in laying the groundwork for private sector engagement, facilitating legislation to streamline investment processes in the state. Focusing on real estate development, NASIDA forged strategic partnerships with institutions like the Federal Mortgage Bank and the Family Homes Fund, culminating in a landmark tripartite Memorandum of Understanding (MOU). Through a rigorous selection process, the ABS Blueprint Modern Shelter Consortium emerged as the preferred partner for a housing development project spanning 67 hectares in Aso Prada, Karu Local Government Area.
Under the Consortium’s stewardship, swift progress was made, with the issuance of a N2 billion corporate bond, facilitated by Mega Capital. Despite initial challenges with banking arrangements, the team demonstrated remarkable agility, completing 100 housing units in less than 100 days. Leveraging support from organizations such as the Federal Staff Loans Board and the Family Homes Fund, the project garnered significant interest from prospective buyers, offering a range of housing options to meet diverse needs.
The project’s trajectory took a decisive turn with the entry of InfraCredit, backed by NASIDA’s unwavering support. Securing a groundbreaking N12.5 billion guarantee line from InfraCredit, coupled with funding from Shelter Afrique, marked a milestone in residential real estate financing. Notably, InfraCredit’s involvement facilitated EDGE certification for the entire development, aligning with global sustainability standards. Furthermore, InfraCredit orchestrated mortgage arrangements through the Housing Solutions Fund, addressing demand-side challenges and fostering inclusive growth.
Beyond housing, the Nasarawa Technology Village project embodies a holistic approach, integrating technology-driven solutions to nurture talent and foster innovation. Partnering with Decagon Institute, renowned for its expertise in software development training, Nasarawa aspires to create a thriving ecosystem for tech enthusiasts. Drawing inspiration from successful ventures like the Edo Tech Park, this initiative holds promise in propelling Nigeria onto the global tech stage while retaining local talent.
In transforming the narrative of PPPs from pain to pleasure, Nasarawa sets a compelling precedent for collaborative development models. With plans underway to replicate this success in projects across other states, including the Sokoto New City and market development in Bauchi, Nasarawa remains at the forefront of pioneering initiatives. Aligning with the vision of the Federal Ministry of Housing and Urban Development’s Renewed Hope Cities agenda, Nasarawa exemplifies the potential of strategic partnerships in driving inclusive and sustainable growth.
Welcome to Nasarawa Technology Village: Where PPPs redefine possibility.
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