DTSG To Partner Investors On Housing, Economic Development - Emu

 

..

Secretary to the Delta State Government, Dr.

Kingsley Emu (right), receives a document from the Managing Director of prospective investor, Hand of God Construction Company Ltd., Engr. David Nwachukwu, ahead of the Delta State Economic and Investment Summit, during a courtesy visit to the SSG's office in Asaba on Tuesday. PIX: Bripin Enarusai 

By Kayode Olopade 

The Delta State Government (DTSG), yesterday, reaffirmed its readiness to partner with private investors in addressing the housing deficit and other development needs in the state. 

Secretary to the State Government (SSG), Dr. Kingsley Emu disclosed this while playing host to the Managing Director of Hand of God Construction Company Limited, Engr. David Nwachukwu, who led management team of the company for a proposal presentation to the State Government. 

Speaking at the proposal presentation held at his office, Dr. Emu noted that government alone cannot provide all the infrastructure and housing required by the growing population.

He reaffirmed the state government's commitment to creating a business-friendly environment through massive infrastructure development and policy support.

The SSG assured investors that Delta remained one of Nigeria's most attractive investment destinations, citing its peaceful environment, strategic location and sustained infrastructure development under the administration of Governor Sheriff Oborevwori.

He disclosed that the state had recently been recognised as one of the fastest-growing destinations for domestic direct investment, with increasing interest from businesses investing in real estate, commerce and other productive sectors.

He stressed that while the government welcomes serious investors, it would not encourage land speculation or land grabbing, adding that only credible investment proposals that would contribute to the state's development would receive official backing.

The SSG, therefore, urged investors to take advantage of the opportunities available in Delta State, describing the forthcoming Economic and Investment Summit in the state as a gateway to global partnerships, investment opportunities and sustainable economic growth.

Earlier, the Managing Director of Hand of God Construction Company Limited., Engr. David Nwachukwu who unveiled the company's plan to construct 2,000 affordable housing units in Delta State within 24 months, said the project is expected to create about 34,000 direct and indirect jobs that would boost the state's lnternally Generated Revenue (IGR).

Engr. Nwachukwu said the initiative was designed to provide quality and affordable homes for civil servants and low- and middle-income earners through long-term mortgage financing.

He explained that the company had successfully partnered with the Federal Mortgage Bank of Nigeria (FMBN) and other mortgage institutions to deliver several housing estates across the country and was seeking to replicate the success in Delta State.

According to him, the project would be financed through available housing funds, stressing that funding was not a challenge, as mortgage facilities of up to ₦100 million were now accessible through the FMBN and other housing finance partners.

Engr. Nwachukwu who is also the National Vice President of the Real Estate Developers Association of Nigeria (REDAN) said the company wants to formally engage the state government to secure the necessary approvals before resuming investment.

He said the proposed estate would feature world-class infrastructure despite being targeted at affordable housing, adding that the development would include commercial facilities and modern amenities capable of transforming the surrounding communities.

The Managing Director of the company assured the Delta State Government that construction would begin immediately after land allocation, with a groundbreaking ceremony expected within weeks, adding that the first phase of the housing project would be ready for commissioning within 12 months.

He noted that the project aligns with Governor Sheriff Oborevwori's vision of providing a conducive living environment for residents while addressing the state's housing deficit.

Nwachukwu emphasized that the proposed partnership would not require the state government to donate land free of charge, describing it as a mutually beneficial investment arrangement in which the state would receive its due financial returns.