Post-Insurgency: Craftec Homes, Obtuse Tec, others to invest N10 billion into Borno Infrastructural Renaissance

Post-Insurgency: Craftec Homes, Obtuse Tec, others to invest N10 billion into Borno Infrastructural Renaissance

By Our Reporter

As part of efforts to key into Governor Babagana Zulum’s 25-year “Development Plan’’ that would drive stabilization, boost recovery efforts and stimulate growth across all sectors and the 10- Year Transformation Strategy that was unveiled in November 2020 by the Borno State Government, Craftec Homes ltd, Obtuse Tec Engineering and Construction ltd is to partner with TAJ Bank, First City Monument Bank, FCMB and other business developers to invest about N10 billion in Jere Local Government Area and Maiduguri Metropolitan Council, MMC.

This was disclosed on Tuesday at Conference Hall, Prime Lodge, Maiduguri by the Project Manager of Craftec Homes ltd, Engr Grema Hamzah while unveiling ‘Borno Corporate Infrastructural Renaissance’.

He said the over-decade atrocities posed by insurgents and their attendant consequences of destruction require private investors and other development partners to support the Government in the post-insurgency era, so as to provide critical infrastructures and create job opportunities for the teaming youths in Borno.

To this end, Engr Hamzah observes that Maiduguri city’s population is growing due to rural-urban migration, and this trend is likely to continue, which is, in turn, a substantial motivation for infrastructure growth.

“Maiduguri City which is now peaceful continue to witness a rapid expansion of financial service providers, Information Technology, IT and financial technology Enterprises, as well as an increase in the number of relatively high-income buyers and tenants who require more high-quality commercial centres.

“Therefore, these companies are willing to invest in Commercial Joint Infrastructure to the tune of N10 billion. The investment will start with four Mega structures to include; Tech Mall, Renaissance Mall, Craftec Shopping Centre each with (A four-storey building with a mixed-use centre consisting of retail space and A-grade offices along the famous Ahmadu Bello Way, in addition to Exquisite Mall (A six-storey building with mixed-use Centre consisting of retail space and A-grade offices at Circular Raid, all in Maiduguri.

“The Borno Corporate Infrastructure Renaissance is a 100% transactional platform to develop projects, at-risk deals, fast track the closure of deals, and improve the business environment for investments to thrive. 

“Craftec Home is not alone in this business, as we are on this platform together with our co-partners, Obtuse Tec Engineering and Construction ltd, Otec MFM, TAJ Bank and FCMB. This is aimed to fast track investments, creating wealth and unleash prosperity for Borno people”. He said.

In his keynote address, Member House of Representatives, Jere Federal Constituency, Hon, Engr Ahmed Satomi who was the former Chairman of Obtuse Tec Engineering and construction ltd, said, as a Board member of the company, this initiative is apt and timely, as it will provide an opportunity to about 70% of Global System for Mobile Communications (GSM) marketers who are mostly youths across the state.

Satomi pointed out that, depending on government alone is no longer visible considering the dwindling economy, adding that, with this new development, more jobless people in Borno would be taken out of the streets and become economically self-reliant.

The Lawmaker called on well-to-do individuals, and business partners to embrace this new initiative and invest heavily to develop Borno economically.

Also contributing, the Managing Director, Obtuse Tech, Engr Umar Lawan, said his construction company, was established in May 2013, which is an indigenous firm that specializes in civil engineering works and services such as infrastructural development, roads and drainage, bridges, solar installation, import and export of general civil engineering design and other related jobs.

He added that, in 2020, the company after its Annual General Meeting, AGM, decided to diversify into three sectors; Agriculture, Aviation and Banking.

“Today is another milestone in partnering with Craftec Homes to showcase our capacity in Corporate Commercial Infrastructure Development, CCID.

“We are also partnering with Otec, Financial Tech Micro Finance Bank where our core target is to fill in the 39 million gap of non-inclusion in Northern Nigeria”. Engr Lawan stated.