FCT to get N3.2tr secondary investment

by THE NATION NEWSPAPER
(27/08/2014)

Over N3.2 trillion secondary investment is expected to be generated for the Federal Capital Territory (FCT), Abuja with the implementation of the Abuja Land Swap Initiative.


Apart from the N3.3 trillion, another 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.

FCT Minister, Senator Bala Mohammed, who spoke yesterday in Abuja while receiving the National Executive Committee of the Nigerian Society of Engineers (NSE) led by its President, Ademola Olorunfemi said the Abuja Land Swap Initiative is equally the first of its kind in the entire African continent. He added that it has only been realised during the transformational period of President Goodluck Ebele Jonathan’s Administration.

He said: “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.

“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 (NSE) for the development of the model city.

“The Abuja Land Swap Initiative is equally the first of its kind in the entire African continent.”

He agreed to allocate a befitting plot of land for the NSE to construct its head office and challenged the group to muster all its contacts to get all the needed resources to build a gigantic edifice expected of a professional body such as the NSE.

He also promised to support the proposed international engineering conference scheduled for Abuja, stressing that the conference will open Abuja to the World and avail the FCT of new frontiers.

Earlier, Olorunfemi had pleaded with the Minister to allocate a plot of land for the society to build its headquarters.

He solicited the cooperation of the FCT Administration and the NSE for the mutual benefit of the two bodies.

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