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Published On: Sun, Apr 13th, 2014

$18bn Abuja Centenary City ready by 2019

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bala fct minister
  • … as FCTA presents C of O to developer

By Stanley Onyekwere

The 18-billion dollars Abuja Centenary City, a multifaceted private partnership driven mega housing investment scheme, to commemorate the centenary celebration of Nigeria, is set to be carried out in seven phases within 60 months (2019) completion period.

Peoplesdaily reports that while 80 per cent of the 1,200 hectares of land mapped out for the project would be for commercial and mixed use purposes, 20 per cent of the land would be used for residential developments.

The Minister of Federal Capital Territory (FCT), Senator Bala Mohammed, made the disclosure, after signing an $18.3 (about N2.76 trillion) agreement with the private investor and developer of the project, Centenary City Plc, at the weekend.

Mohammed, who also handed over the Certificate of Occupancy (C of O) for the land to the investor for the housing programme, said it was an initiative of the Federal Government to provide qualitative houses for Abuja’s rapidly growing population.

He added that the project, which conceptual and engineering designs had been completed, would provide more than 2,050 jobs direct jobs during full construction period.

The minister however explained that the presentation of the C of O to the investor would enable the company to access funds to accelerate development of infrastructure on the land.

According to him, in line with best global practice there would be periodic briefing on the progress of the project, with the Federal Capital Development Authority (FCDA) monitoring the project to ensure compliance with Abuja Master Plan.

The minister explained that the presentation of the C of O to the investor would enable the company to access funds to accelerate development of infrastructure on the land.

Earlier, the Managing Director of Centenary City, Michael Odenigwe (jnr), who disclosed that among the commercial facilities are five-star hotels and convention centre, maintained that the company paid N1.2 billion as compensation for valuables on the land.

Furthermore, the Executive Secretary of FCDA, Adamu Ismaila, who confirmed the payment of the compensation to affected communities, said “the next stage is to conduct a biometric and data capturing exercise of the indigenes’ property and find a site where the company will build houses for them before relocating them.”

Peoples Daily reports that the land was located at Kuje, off Nnamdi Azikiwe Airport Road, in the nation’s capital territory.

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