The federal government is inviting more investors to explore the opportunities which the Centenary City, Abuja offers yield-hungry investors and home-seeking Nigerians.
The multifunctional development, estimated to cost $18.5 billion on completion, sits on 1,500 master-planned community and is touted as the largest development of its kind in Africa.
The city, which is envisaged as a spectacular city hub, is designed as a fitting tribute to Nigeria on its 100th anniversary. It promises 250,000 direct jobs in the federal capital territory and 500,000 indirect jobs to be created from construction and other site activities.
It is expected that skills, expertise and vast experience will be brought into the country to build the city to reflect the Dubai model as the city is also expected to be of immense benefit to Nigeria’s over-all development.
Ahmed Dangiwa, minister of Housing and Urban Development, noted that the concept of the city project aligns with President Bola Tinubu’s Renewed Hope City agenda, pointing out that it reflects an inclusive city with various living options and facilities such as sports and medical tourism.
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Dangiwa spoke when a delegation from the Centenary City Plc led by Pius Anyim, its Vice Chairman and former Secretary to the Government of the Federation, visited his office.
The city, which was initiated towards the end of former President Goodluck Jonathan’s administration is aimed to create a smart city, attract global investment, and position Nigeria as a prime destination for business and development. It has, however, been stalled over the years for undisclosed reasons.
The minister stressed the importance of engaging Public-Private Partnerships (PPPs) to address housing deficit and create jobs in Nigeria through such projects, disclosing that the federal government is ensuring that affordable houses are provided to Nigerians while enabling environment is created for public-private partnerships to flourish.
He, therefore, directed the PPP department in the ministry to engage with the team from Centenary City Plc for investor-partnerships and to introduce them to the Infrastructure Concession Regulatory Commission (ICRC) for collaboration.
On his part, Anyim called for the ministry’s collaboration to bring the Centenary vision to fruition, urging the ministry to help secure funding that would enable cooperative societies and individuals to own homes in the city.
The city which is being developed as a joint venture between Front Range Developers of the United Arab Emirate (UAE) and Centenary City Plc was, at a time, in the news for the wrong reason over allegations of underhand dealings which emerged after its launch, hindering the progress and completion of the facility which is mixed use.
This, notwithstanding, former President Muhammadu Buhari commended the city’s main development partners for having enough confidence in Nigeria to invest about $18.5 billion in the project.
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