Federal cabinet approves continuation of FCT N1t land swap initiative

The Federal Executive Council (FEC) has approved the continuation of the Federal Capital Development Authority (FCDA) land swap initiative.

The initiative whose worth was put at about N1 trillion under the previous dispensation was designed to remedy the infrastructure deficit in the federal capital by swapping land with private investors who would in turn provide necessary infrastructure.

• Tegina pupils: Parents beg for money in Churches, Mosques as bandits reduce ransom
• EFCC: How we nabbed minister who bought $37.5 million property illegally

The Minister of the Federal Capital Territory (FCT), Mohammed Musa Bello, announced the continuation on Wednesday at the end of the federal cabinet meeting presided over by President Muhammadu Buhari at the State House, Abuja.

Bello said the approval was given to the initiative popularly known as Land Swap after the presentation of a memo on the programme that started under the previous administration.

The Minister said some amendments were made to the original form of the initiative by establishing a legal framework to protect all parties.