By Ekweaga Uzoma
The Anambra State Government has commenced discussions with major financial institutions on possible funding arrangements for the proposed staff housing project for civil servants and students’ hostels at the three campuses of Chukwuemeka Odumegwu Ojukwu University (COOU), Igbariam and Uli, as well as the Nwafor Orizu College of Education, now STEM University, Nsugbe.
The initiative was being spearheaded by the Anambra State Ministry of Housing as part of the efforts to provide affordable and sustainable accommodation for civil servants and students across the state.
The Ministry on August 18, presented the architectural designs for the proposed projects to representatives of four leading banks—United Bank for Africa (UBA), Zenith Bank, Fidelity Bank and First City Monument Bank (FCMB)—at the Jerome Udoji Secretariat Office Complex, Awka.
Welcoming the bank representatives, the Commissioner for Housing, Arc. Arize Henry, said that the Anambra State Governor Prof Chukwuma Soludo, considers the projects critical to the development of the state and has mandated the Ministry of Housing to design, coordinate and oversee their execution.
According to him, the Ministry of Lands had already provided the required land for the projects, while the building designs had been completed.
He explained that the major issue before the government was to determine the equity contribution and financing arrangements that would be suitable for beneficiaries and participating financial institutions.
The commissioner said that the projects would be executed under a Build-and-Transfer arrangement, with emphasis on financial discipline, transparency and measures that would protect the investments of the participating banks.
Arc. Arize further disclosed that the students’ hostel projects would be constructed in three units at each designated location, in line with relevant National Universities Commission (NUC) standards. He added that the facilities would include adequate security arrangements and solar-powered lighting, while remaining affordable for the intended beneficiaries.
Speaking on behalf of FCMB, Mrs. Christina Ibe thanked the commissioner for the opportunity and said that she would present the proposal to the bank’s management for consideration.
The representative of Zenith Bank also welcomed the initiative, describing it as a people-oriented project capable of positively impacting the lives of students and civil servants. He promised to consult with the appropriate authorities within the bank on the proposal.
Similarly, the UBA representative, Mr. Omenogor Cletus, commended Gov Soludo for initiating the project, noting that the purpose would help address the accommodation challenges faced by students in the university environment.
Ekweaga Uzoma is with Ministry of information and Value Reformation, Anambra State
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