TERTIARY EDUCATION TRUST FUND (TETFund)
GENERAL NOTICE TO ALL INTERESTED INVESTORS ON THE YEAR 2025 PUBLIC PRIVATE PARTNERSHIP HOSTEL DEVELOPMENT PROJECTS

INTRODUCTION
In a bid to address the increasing number of dilapidated and inadequate student housing units across many of the Nation’s Public Tertiary Institutions, His Excellency, President Bola Ahmed Tinubu GCFR has graciously approved a special intervention in the Year 2025 Disbursement Guidelines to focus on the development of hostel accommodation for students under a Public Private Partnership (PPP). The project is valued at N4 Billion (Four Billion Naira), with the provision of 75% funding as counterpart contribution by the interested Investor and 25% by TETFund on behalf of the beneficiary institutions.

SCOPE OF THE PROJECT
To design and construct a safe, functional and cost-effective hostel building equipped with all ancillary facilities which would be used as residential accommodation for undergraduate and post graduate students.

The project shall employ a Design, Build, Finance, Maintain, Operate and Transfer arrangement between the Institutions and the Investor with a concession issued for a period ranging from 23-30 (Twenty-Three – Thirty) years upon execution of all requisite agreements.
The project shall consist of a minimum of 1200 bed spaces (for both male and female hostels) made up of single & double occupancy but not more than four (4) occupants in a room.

A. ELIGIBILITY REQUIREMENTS
i. Evidence of financial capacity to execute the project.
ii. Evidence of technical capacity to execute the project.
iii. Contribution of part funding of N3Billion Naira as 75% equity to the Project.
iv. Evidence of private investor registration with the Securities and Exchange Commission (SEC), compliance with Infrastructure Concession Regulatory Commission (ICRC), as well as any relevant certification as it relates to the National Policy on Public Private Partnership (where applicable).

B. GENERAL INFORMATION
i. The Interested Investor would be required to:

  • Provide its corporate profile.
  • Commit to the establishment of a Special Purpose Vehicle (SPV) company with the intending Institution for the execution of the project.
  • Commit to a Shareholders Agreement showing formation of capital structure and ownership of the Special Purpose Vehicle (SPV) company established for the project.
  • Commit to a concession agreement for a period ranging from 23-30 (Twenty Three – Thirty) years on the project.
  • Commit to executing a deed of lease with the interested beneficiary Institution for a period ranging between 23-30 (Twenty Three – Thirty) years.
  • Present an Outline Business Case (OBC) and any other document from the Infrastructure Concession Regulatory Commission (ICRC) and acquire all necessary approvals.
  • Provide detailed drawings and Bill of Quantities for the hostel project.

ii. All the projects and programmes mentioned above are to be executed under the 2025 Disbursement cycles in 24 out of the 32 selected Beneficiary institutions (as attached). The balance shall be transferred to the 2026 Disbursement cycle of the Fund.
iii. All applications from interested investors would be treated on the basis of merit and must receive the concurrence of the Governing Councils of the Beneficiary Institutions.
iv. Applications shall be treated on a first-come, first-served basis.
v. Interested, competent and eligible Investors wishing to invest in the Hostel Development Project are hereby invited to contact any of the attached 32 TETFund’s Beneficiary Institutions to express their interest in the project, on or before 1st September 2025.

PUBLIC PRIVATE PARTNERSHIP (PPP)

S/NNAME OF INSTITUTION
1University of Lagos, Akoka, Lagos State
2University of Ilorin, Ilorin, Kwara State.
3Federal University, Lafia, Nasarawa State
4University of Abuja, Gwagwalada, FCT.
5Benue State University, Makurdi, Benue State.
6University of Jos, Jos, Plateau State
7University of Maiduguri, Maiduguri, Borno State.
8Abubakar Tafawa Balewa University, Bauchi, Bauchi State
9Modibbo Adama University, Yola, Adamawa State.
10Taraba State University, Jalingo, Taraba State.
11Gombe State University, Gombe, Gombe State.
12Federal University of Agriculture Zuru, Kebbi Kebbi State
13Bayero University Kano Kano State
14Usmanu Danfodiyo University, Sokoto, Sokoto State
15Kaduna Polytechnic Kaduna, Kaduna State
16Federal University Dutsin-Ma, Kebbi State
17University of Nigeria Nsukka Enugu State.
18Nnamdi Azikiwe University, Awka, Anambra State
19Imo State University, Owerri, Imo State.
20Abia State University, Uturu, Abia State.
21Ebonyi State University, Abakaliki, Ebonyi State.
22Federal Polytechnic, Oko, Anambra State.
23University of Port Harcourt, Port Harcourt, Rivers State.
24University of Benin, Benin City, Edo State
25University of Calabar, Calabar, Cross River State.
26Nigerian Maritime University, Okerenkoko, Delta State.
27Auchi Polytechnic, Auchi, Edo State
28Obafemi Awolowo University, Ile-Ife, Osun State.
29University of Ibadan, Ibadan, Oyo State.
30Lagos State University, Ojo, Lagos State
31Tai Solarin University of Education, Ijebu Ode, Ogun State
32Yaba College of Technology, Lagos, Lagos State.

Signed:
Management
TERTIARY EDUCATION TRUST FUND
6, ZAMBEZI CRESCENT, OFF AGUIYI IRONSI STREET, MAITAMA-ABUJA.

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