Abuja Centenary City Project; FG to save over $80b in capital flight Press "Enter" to skip to content

Abuja Centenary City: FG to save over $80bn

…Pays N1.4bn land compensation
Management of the Abuja Centenary City Plc has said that the project which has commenced its structural facility fully will save the country over $80 billion in capital fight, as it has accommodated most of the businesses Nigerians seek overseas.

The management also said it has paid compensation totalling N1.4 billion on land to both indigenes and land owners within 2,262 hectares of land.

Daily Times recall that the project, which suffered two years set back due to government bureaucracy, was said to have surpassed all legal requirements as was gazetted by the previous administration.

The managing Director of the Centenary Economic City Free Zone, Dr. Ikechukwu Odenigwu, while announcing this at a world press conference Wednesday, in Abuja, said that the economy of the country will bounce back with the provision of facilities attracting Nigerian tourists and business investors abroad.

Dr. Odenigwe, while reiterating the board’s effort in ensuring that the dream of the project comes through, revealed that the Centenary City project has provision for about 400 beds ultra-modern hospital with latest equipment especially designed for medical tourism.

Also he said that the design ensures the provision of tourist centres and ultra-modern sports facilities, specially meant to rake in dollars from sports tourists all over the world.

Also speaking, the Foreign Investor, and the Executive Director, Front

Range, Jaimal Shergill noted that his group was replicating the infrastructural wonders they had achieved in Dubai in Nigeria.

Shergill explained that the project has 260 luxury villas, 139 office buildings, 313,697 spaces for hotel suites and service apartments and many others.

Prior to this, Dr. Odenigwe, noted that the management of the Abuja Centenary City Plc, had succeeded in paying land compensation of N1.4 billion to land owners and N306 million compensation for economic trees in the past three years.

On job creation, Odenigwe, further revealed that foreign investors are bringing to Nigeria specifically to create over 200,000 jobs for the youths, first of its kind in the country.

He said that the value of the entire contract stands at the cost of $18.5 billion with N10 billion already gone in the project as part payment.

Meanwhile, the Managing Director, Nigeria Export Processing Zones Authority (NEPZA), Barrister, Emmanuel Jime, has said that the project has come at a time the country is diversifying its economy, and described it as a sure bet for economic buoyancy.

He assured his administration’s readiness to work with the management as a regulatory body and to provide every necessary policy to make the project a reality.

Representing the traditional stools, in the Federal Capital Territory (FCT), and the indigenous people of Jiwa and Kuje in the FCT, HRH Dr. Idris Musa the Emir of Jiwa, confirmed the full payment of land compensation to the owners.

Dr. Musa, however, said that reason for constant agitation for compensation after payment was due to delay in kick starting the project.

“Let me tell you that this people are all indigenous people and predominantly farmers. When in the past they got compensation, but when the land remain untapped, they still go back to agitate for more since they cannot use the lands”.

The Gomo of Kuje, Alhaji Haruna Tanko Jibril, said that the people are happy as the full compensation has been paid and that the people are eager to see the project materialise, and commended the management, whom he said has come to provide employment for the youths.

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