PRESIDENT Goodluck Jonathan Tuesday unveiled the Abuja Centenary City Project, thus rounding off celebrations marking 100 years anniversary of the country, which was commenced early this year.
The project is being executed with a partnership arrangement between the Centenary City Plc in collaboration with Dubai-based Eagle Hills, which its Executive Chairman, Mr. Mohammed Al-Abbar, noted has acquired global reputation for property development and management.
At the groundbreaking and unveiling ceremony, the President said the project, which is solely private-sector driven was part of his administration’s desire to create an enabling environment necessary for the growth and development of the country. Besides, he noted that with the involvement of the Dubai-based property firm, the country’s quest for direct foreign investment was beginning to yield results.
This was just as former Military Head of State, Gen. Abdusalam Abubakar ( rtd.), who is the Chairman of the Centenary City Project, noted that it would push Nigeria’s economic profile to the next level. He, however, appealed to Nigerians to rally around the present administration by giving peace a chance, noting that without peace, there could not be development.
Occupying 1,167 hectares along Airport Road , the project meant to commemorate100 years of the nation’s amalgamation was estimated at N2.976 trillion ($18.6 billion).
According to Jonathan, the project when completed promises to be a symbol of national unity.
He said no other sign could demonstrate the symbol of his administration’s determination for excellence than the city which he said promises a unique and global standard in real estate project.
Besides, Jonathan, who was flanked by the visiting Ethiopian Prime Minister, Hailemariam Desalghen and his wife as well as some governors, said the project would turn out to be a modern city where modern beauty will merge with architectural creativity, stressing , his administration’s determination to make it a sustainable and viable economic project.
“We don’t want to build a city where everybody will have maiguard (security guards). We don’t want a city where everybody will dig their bore holes and where everybody will be buying generators,” he said.
The Secretary to the Government of the Federation, (SGF) Anyim Pius Anyim In his welcome remarks told the gathering that the city is not a housing project but strictly an economic project, emphasizing that the only residential area that would be provided would only complement the business concerns.
He disclosed that Eagles Hills Properties would develop the city at no cost to the government, but added that the Nigerian Sovereign Wealth Fund Authorities had signed an agreement to co-invest with the firm. Anyim described the project as revolutionary, visionary and transformational.
Chairman of the Centenary City Project , Gen. Abubakar who observed that it is only when peace reigns in all parts of the country that the project can be successful therefore called on Nigerians to ensure they maintain peace.
“It is only when there is peace that the project can be successful. It is the duty of every one of us to make sure that we maintain peace in the county,” he said.
The sum of N2.976 trillion has been mopped up to develop the 1,200 hectares of land earlier earmarked by the FCT Administration for the purpose.
A total of N1.2 billion being 100 percent compensation has been paid for economic trees of the original inhabitants as well as structures of some non-natives situated in the area.
While 20 percent of the plots has been earmarked for residential houses, 80 percent is for mixed use and commercial purposes.
The Abuja Centenary City will be the second-largest private city development in history, and signals a new national economic awakening.
The City will incorporate a Free Trade Zone, duty free regime, tax holidays and non-regulated banking services in an effort to boost trade and investment in Nigeria, and make it replica of the success of Dubai, Monaco, Shenzhen, Sing
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