Vice President Namadi Sambo has flagged off the construction of the N2.2 billion Kogi House in Abuja with a call on other state governors to emulate the Capt. Idris Wada (rtd) led Kogi State administration.
The design proposal for the project located on Plot 999 Cadastral Zone is for the development of an 11-storey building comprising a 5-star 89 apartments/rooms and 23 Nos. office/commercial accommodations which has been estimated to cost N2.2 billion. The construction period is 24 months.
Sambo who stated this yesterday at the foundation laying ceremony of the project noted that the land for was allocated to the state over 20 years ago but only the incumbent administration had the foresight to develop the project, which he noted would improve the fortunes of the state when completed.
While reiterating the support of the President Goodluck Jonathan administration for the Kogi state government and its people, he announced that government has removed all encumbrances around the Ajaokuta Steel Company on the state and the company would soon be revived.
The vice president expressed hope that the project when completed would achieve the aim for which it was initiated.
Earlier in his address, the governor said, the goal of the state for the project is to seize and indeed capitalise on the shortage of quality and appropriate housing and commercial accommodation needs in Abuja to the advantage of the state.
“It is my belief that this project will chart a course towards the improvement of housing and commercial accommodation; generate employment and revenue both for Kogi state government and the Federal Capital Territory. Indeed, there is no doubt that the 11-storey Kogi House, when completed will definitely stand tall to dwarf all existing buildings in this part of the nation’s capital.”
It should also exert some aesthetic impact on the skyline of the Central Business District (CBD) of Abuja, thus raising the profile of Kogi state,” Wada emphasised.
He said the project was being executed through public private partnership and the state was partnering a Chinese firm, Kaibo Engineering Holdings Limited, in a unique arrangement which compels the contractor to also bring on board a project management team to ensure compliance with the timeline, quality and all the processes and procedures that would lead to the delivery of the project as agreed upon.
“The strategic arrangement of the PPP agreement on the Kogi House gave rise to a structure where Kogi state government contributes 80 per cent of the investment, while our PPP partners, Kaibo Engineering Holdings Limited will contribute 20 per cent, the investment ratio being 4:1. Kaibo is also responsible for the management of the property to ensure that partners obtain the expected returns on their investments,” the governor emphasised.
