AKSU VC , Prof Essien Signs MOU for Construction of 1,600 Bed Space Students' Hostels

The Vice Chancellor of the Akwa Ibom State University (AKSU), Prof. Nse U. Essien has signed a Memorandum of Understanding (MOU) with Africa Plus Partners Nigeria Limited (APPNL) for the development of a 1,600-bed space students' hostel in the Institution under a Public-Private Partnership (PPP) arrangement

May 7, 2024 - 17:21

AKSU VC , Prof Essien Signs MOU for Construction of 1,600 Bed Space Students' Hostels

The Vice Chancellor of the Akwa Ibom State University (AKSU), Prof. Nse U. Essien has signed a Memorandum of Understanding (MOU) with Africa Plus Partners Nigeria Limited (APPNL) for the development of a 1,600-bed space students' hostel in the Institution under a Public-Private Partnership (PPP) arrangement on Monday, May 6, 2024, at the Liaison Office, Shelter Afrique, Uyo.

The Vice-Chancellor, Prof. Nse U. Essien, warmly welcomed and thanked the team from Africa Plus Partners Nigeria Limited for their partnership with Akwa Ibom State University. He described this collaboration as a significant milestone in the University's history and expressed gratitude to His Excellency, Bola Ahmed Tinubu, the President and Commander-in-Chief of the Armed Forces, His Excellency, Pastor Umo Eno, the Governor of Akwa Ibom State, and the Commissioner of Education, Hon. (Mrs.) Idongesit Etiebet, for their contributions towards making the project a reality. According to the Vice-Chancellor, "Our University is among the first beneficiaries of such a commendable project in the Country."

In her remarks, the Honorable Commissioner of Education, Mrs. Idongesit Etiebet, thanked the President of Nigeria for collaborating with the Governor of Akwa Ibom State on this commendable project. She also expressed gratitude to the Vice-Chancellor and the development partners for their efforts, stating that "the accommodation challenges at Akwa Ibom State University will soon be resolved."

During the event, Mr. Niran Ajakaiye, the Managing Director of APPNL, expressed appreciation to the Governor of Akwa Ibom State, the Commissioner of Education, and the Vice-Chancellor of Akwa Ibom State University for facilitating the partnership process. He explained that the project stemmed from a proposal by APPNL for the "Development of Student Housing in Akwa Ibom State University," as APPNL is an infrastructure fund manager licensed and accredited by the Nigerian Securities and Exchange Commission.

Mr. Ajakaiye further elaborated that the project's cost would be funded collaboratively by TETFund and APPNL, with TETFund providing 25% of the project cost under a special intervention framework for AKSU, and APPNL providing the remaining 75%.

These funds will be utilised for the project's completion. He added that upon completion, APPNL would appoint a facility management entity to oversee the structure for 21 years, after which control would be given to AKSU.

Mr. Dipo Lawore, Head of Deal Origination and Investment at Africa Plus Partners Nigeria Limited, mentioned that the development of the 1,600-bed space students' hostels for AKSU would be completed within 12 months. He announced that the ground-breaking ceremony would take place Thursday, May 16, 2024, at the Main Campus, Ikot Akpaden, Mkpat Enin Local Government Area.

The MOU signing ceremony was conducted with the Vice-Chancellor and Registrar, Dr. Ebi G. Eno-Ibanga, FNIM represented by the Head of the Legal Unit, Barr. Ime Udofa, signing on behalf of the University, while Mr. Dipo Lawore and Mr. Niran Ajakaiye signed for Africa Plus Partners Nigeria Limited.

Present at the ceremony were Mr. Gabriel Otu, Head of the Directorate of Information, Public Relations and Protocol, Mr. Ibong Nkanga from the same Directorate, and members of the press.