Abuja — A Nigerian company, Exhimab Integrated Link Limited, whose N26billion Staff Housing contract was revoked by the outgoing Clerk of the National Assembly, Mr. Oluyemi Ogunyomi , for allegedly defaulting in time of delivery, has landed a $1.2 billion housing contract in Chad Republic.

The contract between the government of Chad and Exhimab (owned by a Nigerian, Alhaji Ahmed Tijanni Umar) is for the construction of 50,000 housing units. Umar, who disclosed this in Abuja shortly after returning from the contract signing ceremony, said the houses, which would be spread across all the provinces in Chad, would be in different categories of one, two, three and four bedroom flats.

He said the project would commence on July 1, 2010 and that it would be completed in 2013. The project is one out of Chad's many welfarist plans to ensure that its citizens enjoy benefit from its crude oil windfall.

It is also a fulfillment of the President Idriss Derby government's pledge to Chadians.

A Memorandum of Understanding (MOU) signed by both parties indicated that the Nigerian company would provide 80 per cent of the funds by receiving international guarantee from the Chadian government while the government of the Republic of Chad would provide the remaining 20 per cent counterpart funds, including land.

Umar commended President Deby for the confidence reposed in Exhimab, particularly on the tax holiday and waiver on building materials imported to the landlocked country.

He disclosed that the flagging off of the project tagged "Mass Housing for All in Chad" would be witnessed by Presidents of the neighbouring countries of Chad.

The MOU was signed by Umar on behalf of Exhimab and the Minister of Housing and Regional Development, Mr. Djimrangar Dadnadji for the Chadian government.