Connect with us

Hi, what are you looking for?


Post Insurgency: Craftec Homes, Obtuse Tec, Others To Invest N10b In Borno Infrastructure Renaissance

As part of efforts to key into Gov. Babagana Zulum’s 25-Year Development Plan and 10-Year Transformation Strategy, some stakeholders are to partner N10 billion in infrastructural development in Borno.

The stakeholders include Craftec Homes ltd, Obtuse Tec Engineering and Construction ltd who are partnering with TAJ Bank, First City Monument Bank (FCMB) among others business developers to invest in Maiduguri.

This was disclosed on Tuesday in Maiduguri by the Project Manager of Craftec Homes ltd, Engr Grema Hamzah, while unveiling “Borno Corporate Infrastructural Renaissance”.

Hamzah said that the over decade destruction by posed by insurgents and its attendant consequences of destruction requires private investors and other development partners to support Government in the post- insurgency era, so as to provide critical infrastructures and create job opportunities to the teaming youths in Borno.

Hamzah observe that Maiduguri city’s population is growing due to rural- urban migration, and this trend is likely to continue, which is in turn a substantial motivation for the infrastructure growth.

“Maiduguri city which is now peaceful continue to witness a rapid expansion of financial service providers, Information Technology, IT and financial technology Enterprises, as well as an increase in the number of relatively high- income buyers and tenants who require more high quality commercial centres.

“Therefore, these companies are willing to invest into Commercial Joint Infrastructure to the tune of N10 billion. The investment will start with four Mega structures to include; Tech Mall, Renaissance Mall, Craftec Shopping Centre each with (A four storey building with mixed-use centre consisting of retail space and A-grade offices along the famous Ahmadu Bello Way, in addition to Exquisite Mall (A six storey building with mixed-use Centre consisting of retail space and A-grade offices at Circular Raid, all in Maiduguri.

“The Borno Corporate Infrastructure Renaissance is a 100% transactional platform to develop projects, at-risk deals, fast track the closure of deals, and improve the business environment for investments to thrive.

“Craftec Home is not alone in this business, as we are on this platform together with our co-partners, Obtuse Tec Engineering and Construction ltd, Otec MFM, TAJ Bank and FCMB. This is aimed to fast track investments, creating wealth and unleash prosperity for Borno people”, Hamza said.

In his keynote address, Rep. Ahmed Satomi representing Jere Federal Constituency, Hon, Engr Ahmed Satomi who was the former Chairman of Obtuse Tec Engineering and construction ltd, said that as Board member of the company, this initiative is apt and timely and would  provide opportunity to about 70% of Global System for Mobile Communications (GSM) marketers who are mostly youths across the state.

Satomi pointed out that, depending on government alone is no longer visible considering the dwindling economy, adding that, with this new development, more jobless people in Borno would be taken out of the streets and become economically self-reliant.

The lawmaker called on well -to- do individuals, business partners to embrace the new initiatives and invest heavily to develop Borno economically.

Also contributing, the Managing Director, Obtuse Tech, Engr Umar Lawan, said his construction company established in May 2013 is an indigenous firm that specialized in civil engineering works and services such as infrastructural development, roads and drainage, bridges, solar installation, import and export of general civil engineering design and other related jobs.

Lawan said that in 2020, the company decided to diversify into three sectors; Agriculture, Aviation and Banking.

“Today is another milestone in partnering with Craftec Homes to showcase our capacity in Corporate Commercial Infrastructure Development, CCID.

“We are also partnering with Otec, Financial Tech Micro Finance Bank where our core target is to fill in the 39 million gap of non inclusion in Northern Nigeria”, Lawan stated.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Copyright © 2021 The News Hawk. Designed by NINCHI Services Limited.

You cannot copy content of ...sorry about that