A lawyer involved in the Abuja Centenary Economic City project, Barrister Nkem Okoro, has commended the Senate for the resolution seeking to revive the project.
In a statement, Okoro said the intervention by previous government contributed to the delay in the project, after the international investments.
He explained that all encumberances to the smooth delivery of the project has been cleared including payment of over N4 billion compensation to land owners and provision of infrastructure.
The Senate in the resolution on Tuesday also set up a seven-member ad hoc committee to review the original masterplan for the $18.5 billion project, the public-private partnership agreement with a view to suggesting amendments, if necessary, to facilitate the expeditious completion of the project within a defined timeframe.
This resolution followed a motion moved by Senator Ashiru Oyelola (Kwara South) urging the federal government to prioritise the revival of the project by providing appropriate support, resolving regulatory issues, and addressing any other impediments, given its beneficial potential to the economy and people of Nigeria after 10 years of stalled progress.
In his lead debate, the Deputy Senate Leader informed the Senate that the project is likened to model smart cities like Dubai, Monaco and Singapore and was launched to mark the 100th anniversary of Nigeria on January 1, 2014.
The project Ashiru explained was meant to serve as a potential economic hub, with plans to create over 150,000 construction jobs, 250,000 permanent well-paying jobs, residential accommodation for over 200,000 residents, and facilities to attract over 500,000 daily visitors, among others.
He explained further, “The Abuja Centenary City was designated as a free trade zone under the regulatory oversight of the Nigerian Export Processing Zones Authority (NEPZA), without prejudice to other statutory agencies like the Federal Capital Territory Administration (FCTA), Abuja Investment Company (AIC) and Abuja Infrastructure Investment Centre (AIC).
“That significant progress has been made on the similarly ambitious $ 6 billion Eke Atlantic City development project in Lagos. A 25-km land reclamation project with varied completed residential towers, an 8-lane boulevard, marinas, water treatment facilities, and power infrastructure among others.”
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