Borno State Partners Thinklab Group To Revamp Abandoned Housing Projects And Address Housing Deficit
In a major step towards reducing the housing deficit in Maiduguri, the Borno State Government has entered into a Public-Private Partnership (PPP) agreement with Thinklab Group Limited to complete and develop previously abandoned housing projects.
The initiative will see the completion of 404 housing units in Bakassi GRA along Biu Road and 190 units in Dr. Shettima Ali Monguno Teacher’s Village along Pompomari Bypass, significantly boosting housing availability in the state.
Presiding over the signing ceremony, the Commissioner for Works and Housing, Engr. Mustapha Gubio, reaffirmed the state government’s commitment to fostering private-sector collaborations for sustainable development. The agreement was witnessed by key officials, including Permanent Secretary Engr. Ali Baware, Special Adviser Engr. Kori Shettima, and representatives from the Housing Corporation. Thinklab Group Limited was represented by its Chairman, Dr. Sa’id Alkali Kori.
Under the terms of the partnership, Thinklab Group Limited will provide financing as equity investment, while the Borno State Government contributes the uncompleted housing units. The revenue-sharing arrangement is structured at 60% for Thinklab Group Limited and 40% for the state government.
Commending the initiative, Dr. Kori lauded the Borno State Government for creating a business-friendly environment and pledged his company’s commitment to delivering high-quality construction. He also emphasized the project’s potential to create job opportunities for local communities and drive economic growth.
This partnership underscores Governor Babagana Zulum’s dedication to infrastructure development and housing accessibility, further positioning Borno State as a model for innovative public-private collaborations.
