CENTENARY CITY - ABUJA
Abuja Centenary City is a city being planned as part of the Nigeria centenary celebration. The centenary city according to the Secretary to the Federal Government, Senator Pius Anyim, would be modeled after cities such as Dubai, Monaco and Singapore, to serve as a political and economic tool for securing foreign investment.
"The idea is to get a better city than the present Abuja where people will not need to provide basic amenities by themselves." said the Nigerian President Dr Goodluck Ebele Jonathan.
It is expected that the Abuja Centenary City will be the financial hub of the capital of Nigeria.
An efficient business enclave will position Nigeria as a key player in the global financial arena.
The new city will be sustainable because it balances economic, social, cultural and environmental factors to produce harmonic development.
The Abuja Centenary City is part of the celebration of the Independence Centenary of Nigeria, therefore, certain buildings and locations will be identified as venues and will be included in the program of the celebration.
The Centenary City is a project of the future. It will be a high profitable entity for the government agencies, investors and users because of its designation as a “duty free zone” and “tax shelter” with special banking regulations.
The new city will be one of the most powerful catalyst that will trigger opportunities for better social and economic development in Nigeria.
The decision makers of Nigeria have provided excellent conditions and land for development, now it is up for the investors and technicians to perform the highest quality work to make this project a reality.
Anyim gave indication that the project site is located near the Nnamdi Azikiwe International Airport, Abuja and that it is estimated at a total cost of $4bn, which will invariably be bought over by a parent company that would manage the entire construction projects.
The SGF gave an assurance to the investors that they would have a good return on their investments if they staked their funds in the project.
He said, “This meeting marks the beginning of the government’s withdrawal from the centenary project, and making the stage clear for decisions to be taken solely by the private sector investors themselves.
“We expect that the project would conform to international standards because we envisage that the stocks of the city would be quoted in the Nigerian Stock Exchange as well as other international markets before the end of 2013.”