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 gave the explanation under chapter six of the book,
entitled ‘Making Money’.
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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