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Published On: Fri, Feb 21st, 2014

Infrastructure: Brazilian investors seek partnership with FCTA … to build 1,000 houses

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By Stanley Onyekwere

The Federal Capital Territory (FCT) minister, Senator Bala Mohammed, has received a delegation of Multi-Billion-Dollars Brazilian investors, who are in Abuja to find ways of partnering with the FCT Administration. The minister who received the delegation led by the former Ambassador Extraordinary and Plenipotentiary of Nigeria to Brazil; Mr. Vincent Okoedio, in his office, noted that the delegation is one of the quick wins of President Goodluck Jonathan’s transformation agenda. Mohammed disclosed that the delegation is interested in partnering with the FCTA on its Rail Mass Transit, Mass Housing as well as road development.

According to him, the FCT Administration is expecting over $3 billion if this partnership and collaboration come to fruition.

He reiterated that it is the intention of the FCT Administration to take a cue from the Federal Government to allow the Organized Private Sector drive its development as well as economy.

The minister assured that the FCT Administration under his watch would continue to provide an enabling environment for investors to strive. He used the opportunity to call on local investors to take advantage of the liberalized policy of the government to harness their potentials by investing in the Federal Capital Territory.

It may be recalled that the World Trade Centre under construction at the Central Business District, Abuja is over $1 billion Foreign Direct Investment; apart from the investment for the Abuja Down Town development, Abuja Industrial Park as well as the Abuja Land Swap Initiative, expected to open up about 10 new districts within the 250 square kilometers of the Federal Capital City.

Responding, Director of Bitello Group, Frederico Joao Stella, who was part of the delegation, thanked the minister for the opportunity given their company to participate in the development of FCT.

He assured that 1,000 houses would be built within some few months as their company has the technology and technical capability to produce a two bedroom flat per day.

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