The Nigerian Army Post-Service Housing Development Limited (PHDL) has earmarked N7.5bn to construct 321 Post-Service Housing estate in Otukpo, Benue State.
The project, which is a public private partnership (PPP) between PHDL and Betoniq West Limited, is expected to be delivered in two years.
Signing the agreement in Abuja, yesterday, the managing director, Post-Service Housing Development Limited (PHDL), Brig Gen M Bashir, said the initiative is part of efforts to reduce the national housing deficit in the country.
He noted that the company has, over the years, provided over 300,000 housing units and thousands of service plots to retiring personnel and the general public, adding that such venture has helped enhanced the life of the personnel.
“Nigeria has a large housing deficit that we need to surmount, for this reason, PHDL has being embarking on Public Private Partnership (PPP) in order to increase house stock which, by extension, will reduce the deficit.
“By today’s initiative, we would be able to deliver 321 housing units in Otukpo,” he said.
The MD further noted that the estates are open to both military personnel and the general public at a ratio of 50:50 as directed by COAS.
The chairman, Otukpo Local Government of Benue State, Hon George Alli, while presenting the certificate of occupancy of the 30 hectares of land to MD PHDL, said the project would create job opportunities for the youths.
Hon George said the project, by providing job opportunities for the youths, will also reduce crime rates and the youths will be gainfully employed and busy.
“Once this project starts, Otukpo LG stands to benefit a lot. The project will create employment opportunities for a lot of youths.
“Creation of youth employment has a multiplier effect because it’s going to reduce crime rate in Otukpo and the entire Benue State.
“Youths will be gainfully employed, both skilled and unskilled, and this will boost the economy of Idoma nation and Benue State at large,” he said.