Globacom, ETB splash N700m on NUGA

30.06.2008

Globacom and Equatorial Trust Bank (ETB) have committed over N700 million toward the hosting of the 2008 National University Games (NUGA), by the University of Nigeria Nsukka (UNN).

The Vice Chancellor of the University, Prof. Chinedu Nebo, disclosed this last Friday at a press briefing at the Nsukka campus.
He said that chairman of the two companies, Dr Mike Adenuga gave the money for the rebuilding of the Akanu Ibiam Stadium.

The News Agency of Nigeria (NAN), reports that the stadium, which is expected to host most of sporting activities of the game slated for this November, has been in a deplorable state.

The stadium is currently undergoing a total overhaul due to the money donated by the companies. According to Nebo, the project, which is at foundation stage, is being handled by Costain Construction Company.

He added that the apart from the gesture by Adenuga, the UNN Private Public Participation (PPP) arrangement had attracted the interest of other financial institutions who were assisting in various areas to develop facilities for the game.

“So far, the commitment of PPP can be put at over N2 billion in the last 18 month,'' he said. They include Renaissance Capital, which is rehabilitating the Olympic size swimming pool at the cost of N300 million, Zenith Bank, handling N250 million worth of project, Intercontinental, Diamond, Union, Access Banks are also undertaking various projects.

“The unprecedented cooperation from private sector is amazing, it has never happened in history of a Nigerian University, and we are happy to be brazing the trail.