A foreign firm, HP Kapital has injected $500 million into the Nigerian Youth Project which aims to empower at least 70m youths in providing affordable homes, and mechanized agricultural businesses.
Chairman of FHT Ventures Plc, Prince Olubunmi Adewa-Faboro, who is the project initiator, told newsmen in Abuja that the project will kick-off with a foundation laying ceremony in January.
FHT Ventures, an indigenous real estate firm, said it is getting more partners for the project including
Omene Group, a Middle East firm and Possibility Specialists Global Resources (PSGR), a local partner for the project.
He also said a documentary is being made to showcase the project and its partners across 150 countries. Adewa-Faboro also said the Federal Ministry of Industry, Trade and Investment as well as the Federal Ministry of Works and Housing, have shown support for the project.
“The other thing that we have been able to do is to get the cooperation of a global finance company from the United States, HP Kapital, to start us off with a foreign direct investment of $500 million within the next six months. And we are starting the foundation laying ceremony of this project by January 27, 2022,” he noted.
Leadman of PSGR, Mr. Egona Abraham, said his company was committed to the partnership having had 23 years’ experience on such innovation. ‘The beauty is that we are just complementing each other’s efforts,” said Egona.
