FG Develop Building Materials
The Federal Government plans to establish building materials manufacturing hubs in six geo-political zones, inviting investors to fund and manage the hubs
EKO HOT BLOG reports that the Federal Government is set to establish building materials manufacturing hubs across the six geo-political zones, the Minister of Housing and Urban Development, Ahmed Musa Dangiwa, has announced.
The minister revealed this initiative while hosting the Executive Chairman of the Yiwu China-Africa Business Council, Zheng Xiaopeng, and its Vice Chairman, High Chief Mike Yousuf Ugwu, in Abuja.
“We are designing a project to build building materials manufacturing hubs. These hubs will house industries producing various building materials,” Dangiwa said.
The proposed locations for the hubs are Sagamu in the Southwest, Aba in the Southeast, Warri or Asaba in the South-South, Ajaokuta in the North-Central, Kano in the Northwest, and Gombe in the Northeast.
Dangiwa also announced the ministry’s readiness to collaborate with investors interested in funding and managing these hubs.
“We invite investors to build the hubs, manage them, recoup their investments, and then transfer ownership to us,” he stated.
The minister assured his guests that the chosen locations are secure and strategically placed near existing building materials markets.
Dangiwa emphasized that the hubs would have steady power, water, and housing for the workers to ensure a conducive and stress-free working environment.
The hubs will manufacture various building materials, such as roofing sheets, ceilings, tiles, and doors.
FG Develop Building Materials
Dangiwa urged investors to propose their designs for the hubs, highlighting the ministry’s flexibility in accommodating different concepts.
A minimum of 100 hectares of land will be provided for interested investors with the option to establish small, medium, or large hubs equipped with necessary manufacturing machines and equipment.
The minister also announced plans to designate the hubs as free zones, which would exempt imported machinery and equipment from duties, thereby attracting more investment and reducing production costs.
The initiative aims to cut down on importation costs, create jobs, and spur economic growth in Nigeria.
Ugwu expressed the Yiwu China-Africa Business Council’s interest in collaborating with the ministry.
He highlighted the council’s experience in constructing housing for the Kenyan government and reassured the minister that funding would not be an issue.
The industrialist sought clarification on the free zone status of the hubs to determine the feasibility of the investment.
Ugwu lauded Dangiwa’s vision, stressing that establishing building materials manufacturing hubs in Nigeria was a strategic move to boost the housing sector.
Click here to watch our video of the week:
Thierry Jacob, the former WBC super bantamweight boxing champion, has passed away at the age…
Nigerian skit-maker-turned-musician Nasboi has made an unexpected and humorous request to superstar Davido, asking the…
Manchester City have been dealt another injury setback, with manager Pep Guardiola confirming that Portuguese…