For the people of South East, Nigeria, whose most thriving industry is commerce and trade, the building of Umuahia Ultramodern Market is about all the leverage the people need to prosperity.

Even though Umuahia is not one of the two largest centres of commerce South East of the Niger, the market is constructed at the Abia State capital courtesy of a government and private developers that appreciate the power of public and private partnership (PPP) as engine for economic growth and development.

Umuahia Ultramodern market is located at Ubani-Ibeku, Umuahia North Local Government area of Abia State. It is situated at the centre of the Abia state capital, Umuahia, off the Uzuakoli road axis. The market is approximately 30 minutes drive from the Sam Mbakwe Airport, Owerri and about 40 minutes drive from Ariaria market, Aba.

At an estimated construction cost of over N4 billion, the market is designed to provide for the state a centre of commerce and trade in Nigeria. The project year commenced on September 1 this year, with the market billed to be commissioned anytime within the 12 months period, being a one year project. Barely two months and two weeks into the construction, is the first phase of work nearing completion, especially the provision of infrastructure. The borehole for the entire market has been fully constructed as it is extremely necessary for the other level of development to be achieved. The market is well departmentalised according to goods sold and services rendered. It is planned to habour shops, lines for special dealers such as cosmetics, spare parts and restaurants; a fire service centre, banking spaces among others.

A miniature inspection was carried out at the market site last month by the developers, Petroz Nigeria Limited. The Executive Director, Petroz, Mr. Nick Mbaezue-Daniel has assured that the market would be completed on schedule and that the commissioning would come within the project year. Officials of the Abia State Government are also making routine visits to the site to ensure it is completed on schedule. GSM provider, Globacom also paid a visit to the site recently. The company held several discussions with the developers on the possibility of improving information technology services in the geographical region of Ubani - Ibeku, hosting the market. The discussion is basically for Globacom to put to optimal state its 3G Network, Internet access, mobile phone services and related infrastructure within the market area.

Conceptualisation

The market is the brain child of the Abia State government. The aim, according to the state government, is to decongest the Umuahia city centre and relocate the traders to a more befitting modern market with adequate infrastructure, comparable to any modern market in the world.

The concept is to build a first class infrastructure and market stall via a PPP (private public sector partnership) and sell to traders at affordable rates and under relaxed financial terms. That way, each trader will acquire his or her own shop without much stress and hence proceed with business under a very friendly environment.

Umuahia Ultramodern market is constructed on a PPP basis. It is a joint venture between the Abia State Government and Messrs Petroz Nigeria Limited, an indigenous property developer and consultant, whose level of professionalism in the property development industry transcends the shores on Nigeria.

Petroz, whose directors are entirely Nigerians, is licensed to provide infrastructure and general contracts. The market is jointly owned by the Abia State government and Petroz.

According to the plan, the former Umuahia market will be demolished after the construction of the new one. The idea is to move the market to a comfortable place. Existing traders in the old market are billed to be given priority in the sale of the new shops but is to be chiefly on the first come first served basis.

The market is constructed in two phases, the phase 1 and phase 11. Petroz Executive Director, Mr.Mbaezue- Daniel, said work is currently in progress on the phase 1 and also on part of phase 11.

"We are building infrastructure which is phase 1 and also doing part of phase 11 that involves the construction of shops. The phase one is expected to be completed within the first quarter of the 12 months project year. But because of the weather condition - mainly interruptions to the work by the rain, the completion may extend slightly to the second quarter" said Mbaezue- Daniel. The traders are eagerly waiting to move their wares to the new market. Chairman, Umuahia Market Union, Akwarandu Anyim who described the old market as ancient and no more conducive for their daily trading said the new market is applauded by the traders especially since the government has assured that the existing traders would be given priority in the allocation of shops.

"We are also happy to hear that mortgage facilities will be provided to make the shop acquisitions easier. Government's plan to also attract industries to the area will accelerate its ubanisation and enhance commercial activities within and around the market," said the market union leader.

Facilities

The project is conceptualised and built to provide the greatest convenience, comfort and most conducive environment possible for traders to transact their businesses and to the level comparable to any such edifices anywhere in Nigeria and offshore.

On electricity, the market is billed to enjoy from the PHCN and also have standby solar panel/inverter system to power the street lighting. All the street light, water system, security cameras and fire alarm system are to be powered and driven by solar energy. Provision has been made for a minimum of eight banks to be located within the market complex. An out post of the federal fire service with a functional fire truck has been incorporated in the market complex and is presently under construction.

A total of 24 fire points is planned for the market. The market is to be equipped with fire extinguishers with a common mustering point. A block for the Nigerian police is also being constructed. It is expected that upon completion, the market shall have a minimum of four standard restaurants and a block allocated for "Bukateria", at least 10 in number. A minimum of 60 toilet facilities in five blocks are being constructed within the market. Also, refuse disposal blocks are under construction. According to the market plan, a janitorial service company shall be engaged for refuse disposal and clearing services.

On security at the market, it is planned that a qualified and efficient security apparatus shall be engaged to provide security cover. A panic alarm system is to be installed to -

interface with the police and the fire services. The Information Technology System, according to the market plan, is to be driven by a cream of IT professionals from various IT disciplines while a single communication network is planned to run the intercom lines through out the market..

Finance

The Abia State government is contributing 20 percent of the finance needs for the project. The developer, Petroz Nig Ltd, financed by Centage Savings and Loans Limited (Mortgage Bankers), is providing 80 percent.

Managing director of Centage, Mr. Gabriel Johnson, said the market merited the finance of the mortgage bank as its valuation proved it was a highly viable project.

According to the mortgage finance arrangement put in place by Centage, prospective buyers are to pay 20 percent of the selling price of the shops while the bank pays the rest, spreading it for the buyers between two to three years. A number of banks including First Bank and UBA have reportedly been invited to also provide mortgage facilities for the buyers.

The authorities are reportedly under pressure by the prospective buyers eager to make payments and own the shops. But Mr. Mbaezue- Daniel said sales will soon commence but definitely not now.

"There is pressure from prospective buyers but we have to put certain things in place. Sales won't be the problem because there is huge demand out there. We just want to get off the ground before we could start selling," said the developer.

Economic Impact of Project

The economy of the Abia State capital, Umuahia has by most indicators been boosted since construction work commenced on the market site. About 4000 people are reportedly earning a living as labourers on the site or as technicians, contractors or suppliers.

Observers of developments in the state since the assumption of power of the incumbent government said the market remains about the most practical demonstration of the interest of a government in power to the economic well being of its people.

It is believed that the market when completed will further have multiplier effect on the state economy owing to the army of traders and providers of auxiliary services that will earn their living thronging the market daily.

Mr. Nick Mbaezue-Daniel said of the state governor and his commitments to bequeathing a befitting market to the people of the state thus; "I see T.A. Orji as a man that can be likened to Nehemiah, the prophet who went to rebuild the walls of Jerusalem with one hand and fighting his enemies and adversaries with another hand. There have been visible changes in Umuahia since T.A. Orji assumed duty. The changes are in many areas including security, infrastructure development, education among others"

Sources say the government intends to replicate the market in the three senatorial zones of the state. Discussions are said to be ongoing between some firms and the Abia state government to rebuild Ariaria market in the commercial nerve centre of Aba to ultramodern market.

Drawing from his experiences as a developer and also one chiefly involved in the Umuahia ultramodern market, Mr. Mbaezue-Daniel painted a beautiful picture of the future of the construction industry in Nigeria as well as the chances of the authorities impacting on the lives of the people through property development.

"The property industry is still a business for the future. Many Nigerians are still living in rented houses. As long as the income is well distributed with the middle class making a come back, I think more and more people will desire to acquire their own houses. The construction industry, the mortgage business and the provision of infrastructure are still basically good business opportunities for the future."

Daniel urged public and private sector operators in the country to mirror the Umuahia Ultra Modern Market by exploring further the benefits of public and private partnership (PPP), and putting it to improving people's welfare.