Former Vice-President, Alhaji Atiku Abubakar
Former Vice President Atiku Abubakar has revealed how he made his money and also built a house for his mother at the age of 15.
Atiku, who is one of the presidential aspirants in the All
Progressives Congress, in his new book titled ‘My Life’, which he
authored, said he bought a mud house for her mother in Ganye, Adamawa
State.
He said he recognised very early in life that he had a good nose for
business and this made him to apply for and obtained a Federal Housing
loan.
The loan, he said, which amounted to N31,000, was the equivalent of his salary for five years as a customs officer.
He said, “I was granted a plot of land by the Gongola State
Government at Yola Government Reserved Area. I hired a foreman and began
building my first house.
“With close personal supervision, the bungalow was completed on time and to my taste. I rented it out immediately.
“The rent I collected in advance on the house was substantial enough
for me to purchase a second plot. I built my second house and rented it
out.
“I continued to plow back the rent into the building of new houses
and within a few years, I had built eight houses in choice areas of
Yola. I also built a new house for my mother and rebuilt the old mud
house I bought for her in Ganye when I was a 15-year-old student.”
The former Vice President said property investment could be
rewarding, because, according to him, returns on it could also be high
depending on the location.
Kaduna, for instance, he added, was a good place to invest in property before the emergence of Abuja.
He explained that he built his first house in Kaduna with the rent he
made from other property and that later, he bought six more plots and
built residential houses and rented them out to individuals and
institutions.
Atiku also added that of all the businesses into which he would
venture, he listed what he described as a small oil services company as
the most successful and most lucrative.
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