By Dennis Mernyi
FHT Ventures Plc, a Pan African Housing and Real Estate firm based in Abuja has announced a $500 million youth empowerment project through a new foreign investor, HP Kapital.
The project will also raise 70 million Nigerian youths through a Nigerian Youth Project empowerment in the provision of mechanized agricultural businesses.
Prince Olubunmi Adewa-Faboro, the Chairman, FHT Ventures Plc, the initiators of the project, disclosed this at a press conference at the weekend, while unveiling new partners stating that the project will kick off with a foundation laying ceremony on January 27, 2022.
The ‘Nigerian Youth Project’ is an initiative, promoted along with Overseas partners, seeking to bring investors from all over the world, to explore Nigerian potentials and provision of mortgage-based affordable homes, and agriculture using the country’s 70 million youths.
Apart from HP Kapital, Prince Adewa-Faboro, said a partner has also joined from the Middle East in the name of Omene Group, adding that a local partner, Possibility Specialists Global Resources, had also been admitted to the project with FHT Ventures ceding 10 percent of its shares to a new local partner.
Adewa-Faboro, who briefed the press in company of Professor Mary Ifeoma Nwoye, a Consultant for the project, Mr. Egona Abraham, the Leadman of Possibility Specialists Global Resources, among other representatives, disclosed that a comprehensive documentary is being put in place to further highlight the profiles and achievements of the all the partners, stressing that the documentary would be aired in 150 countries across the globe.
According to him, the press parley was specifically to unveil a calendar of planned events of the group in the coming months and beyond.
“We are happy to announce to the whole world that we have made a presentation to the Federal Ministry of Industry, Trade and Investment and they are positive in encouraging this project and in addition we have made representation to the Federal Ministry of Works and Housing, and we are currently working with the public and private partnership of that same ministry to be able to meet Federal government to be our partner in this project.
“This partnership is unique in the sense that our overseas partners who are going us on this project will have the rest of mind that despite the security challenges in the country, they will be protected. And that the foreign direct investments they are bringing into this country will be such that they will be able to repatriate their profit without any hitch.
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“The other thing that we have been able to do is to get the cooperation of a global finance company from the United States, called HP Kapital, HP Kapital is going to start us off with foreign direct investments to the tune of $500 million within the next six months. And we are starting the foundation laying ceremony of this project by January 27, 2022.
“We have been able to get a partnership from the Middle East through a group called Omene Group. And in recent time, we have gotten a local partner that we have given 10% of our company to because the kind of leverage they are putting into their own vision is similar to ours, and they are already existing in 37 locations we call states, with FCT that makes it 37” he said.
In his remarks, Mr. Egona Abraham, the Leadman of Possibility Specialists Global Resources, said his company is being 23 years of experience to bear in the project, stressing that ‘the beauty is that we are just complementing each other’s efforts.
