The Benue Investment and Property Company (BIPC), under the leadership of Dr. Raymond Asemakaha Jr. CFA, has announced a new property development initiative that will allow landowners in Makurdi to partner with the government to transform their properties into modern 3, 4 and 5-storey buildings.
The initiative is being developed by the Benue State Ministry of Lands, Survey and Solid Minerals in partnership with BIPC as part of Governor Rev. Fr. Hyacinth Iormem Alia’s Urban Renewal Programme. It is expected to focus initially on selected properties in the High Level and Low Level areas of Makurdi, with the aim of giving the city a more modern appearance while increasing the value and economic potential of existing properties.
Under the arrangement, a landowner in the selected areas will have the opportunity to partner with the government and its development partners to redevelop the property. For example, instead of having a single-storey building on a plot of land, the property could be redeveloped into a modern multi-storey structure depending on the approved development plan. Participating landlords will retain an agreed portion of the newly developed building and receive a distinct Certificate of Occupancy for their allocated floor or portion, subject to the terms of the agreement.
The programme is aimed at modernising parts of Makurdi, increasing the value of existing properties, making better use of available urban land, creating additional residential and commercial spaces, encouraging investment in the city, supporting economic activities and employment, and giving participating property owners an opportunity to benefit from redevelopment. Officials emphasise that this is a government-property-owner partnership rather than a situation in which the government takes over people’s land.
Landowners who are interested have been advised to obtain the official terms of the proposed partnership and fully understand their rights, obligations, ownership share and Certificate of Occupancy arrangements before signing any agreement. For enquiries, residents can contact 0803 448 6296 or 0806 970 7200, or visit the office of the Honourable Commissioner for Lands and Survey, Rev. Dr. Frederick Ikyaan, or the GMD of BIPC, Dr. Raymond Asemakaha, CFA.
