October 3, 2011

UK firm plans mass housing projects in Nigeria

A United Kingdom-based company, TBC Africa Construction Ltd, has revealed plans to embark on mass housing projects in Nigeria.

Director, Business Development, TBC Africa Construction, Mr. Ade-Omotosho Austen, said during a dinner in Abuja that his company is interested in building contracts whether solely or as an agent or in partnership with interested parties to help reduce the over 14 million housing deficit in Nigeria.

He said the company looks forward to improving mass housing, creating wealth and reducing employment in the country, stressing the need for the private sector to key into government’s mass housing scheme because pointing out that government’s efforts alone have not yielded the needed results.

In his remark, Finance Director of the company, Mr. Trevor Dowd, said they plan to secure loans from UK banks for the projects while most of the building materials will be sourced locally. He however did not disclose monetary value of the company’s initial investment in the mass housing scheme.