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Published On: Tue, Aug 26th, 2014

Land swap: Abuja to get N3.2 trillion investment

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By Stanley Onyekwere

Abuja, the Federal Capital Territory (FCT), is expected to generate over N3.2 trillion secondary investments from the successful execution of the on-going Abuja Land Swap initiative.

This was disclosed by the FCT Minister, Senator Bala Mohammed, when he received the National Executive Committee of the Nigerian Society of Engineers (NSE) led by its President, Engr. Ademola Isaac Olorunfemi, in Abuja.

According to the minister, apart from N3.2 trillion, the sum of N450 billion is already accruing to the FCT Administration from the Land Swap primary investment, which is the cost of the infrastructure to be provided by the investors.

 Mohammed, who described Abuja as a national mega engineering project that is a success story in the history of Nigeria, appreciated the contributions of the Nigerian Society of Engineers for the development of this model city.

In a statement signed by the minister’s Chief Press Secretary, Muhammad Sule, the minister reiterated that the Abuja Land Swap Initiative is equally the first of its kind in the entire African continent, which has only been realized during the transformational period of President Goodluck Ebele Jonathan’s Administration.

He however challenged the Society to muster all its contacts to get all the needed resources to build a gigantic edifice expected of the profession body like NSE.

Speaking earlier, the NSE President, pleaded with the Minister to allocate a plot of land for the society to build its headquarters.

He solicited for continued cooperation of the FCT Administration and the Society for the mutual benefits of the two bodies.

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