A property developing company, BMM Limited yesterday signed a partnership agreement with Kaduna State University (KASU) to develop 320bedspace hostel on a Public Private Partnership (PPP) arrangement.
The Managing Director and Chief Executive Officer of BMM Limited, Musa Bulus Moro’a at the signing of the agreement in KASU said that the hostels would be built on a PPP arrangement with a clause of ‘build and sell’ back to the institution for onward rent to students.
Payment for the property he said would be made to the Company on installment basis within the period of 15years; adding that the project will be completed in the next eight months.
“We believe this project will help the University in terms of development because what is going on right now is that government does not have money to fund most of its facilities, so it needs the private sector to come in on a PPP arrangement. Under this arrangement with a clause of build and sell back to the institution, payment will be made within the next 15years,” he said.
The University Linkages and Affiliation officer, Muazu Idris said the aim of the arrangement is to complement government’s efforts in providing the needed infrastructure in the University as well as to provide accommodation for students within the campus especially the boys so that they can find easy to learn and reside within the institution.
“Our post-graduate students are basically not residing within. The room is open for whosoever is interested in this kind of partnership. The Vice Chancellor is ready to negotiate provided it is economically viable to the University. More so, the Kaduna State Government recently allocated a permanent site to the University along Zaria road, which means a lot of development,” he said.
By: Christiana T. Alabi