The Borno State Government has entered into a public-private partnership (PPP) with Thinklab Group Limited to complete and develop abandoned housing projects in Maiduguri.
The agreement focuses on completing 404 housing units in Bakassi GRA along Biu Road and 190 units in Dr. Shettima Ali Monguno Teacher’s Village along Pompomari Bye-pass. The project will also include key infrastructural developments such as road networks, electrification, water supply, and landscaping.
The signing ceremony was presided over by the Commissioner for Works and Housing, Mustapha Gubio, alongside other government officials, including Permanent Secretary Ali Baware and Special Adviser Kori Shettima. Thinklab Group Limited was represented by its Chairman, Sa’id Alkali Kori.
Funding and Equity Structure
Under the agreement, Thinklab Group Limited will provide the necessary funding for project development, serving as its equity contribution, while the Borno State Government will contribute the uncompleted housing units.
The agreed profit-sharing ratio is set at 60% for Thinklab Group Limited and 40% for the state government.
Commitment to Quality and Job Creation
Commissioner Gubio reaffirmed the state government’s commitment to fostering public-private partnerships and urged Thinklab Group to deliver high-quality work.
In response, Thinklab Chairman Sa’id Alkali Kori praised the government for facilitating private sector investment and assured that the company would maintain high construction standards while also generating job opportunities for local communities.
