The federal government is urging investors to explore opportunities in the $18.5 billion Centenary City project in Abuja, as part of efforts to accelerate its completion and boost economic growth......CONTINUE READING THE ARTICLE FROM THE SOURCE>>>>>
The Minister of Housing and Urban Development, Arc. Ahmed Musa Dangiwa, renews this call while receiving a delegation from Centenary City Plc, led by its Vice Chairman and former Secretary to the Government of the Federation, Senator Pius Anyim.
Initiated in 2014 under former President Goodluck Jonathan’s administration, the Centenary City project is envisioned as a smart city designed to attract global investment, create employment, and position Nigeria as a hub for business and development. However, the project has faced setbacks over the years, leading the Senate in 2024 to establish an ad-hoc committee to investigate the causes of its delay.
Dangiwa emphasizes that the project aligns with President Bola Tinubu’s Renewed Hope City agenda, as it aims to provide inclusive housing options and world-class facilities, including sports and medical tourism centers. He highlights the crucial role of Public-Private Partnerships (PPPs) in addressing Nigeria’s housing deficit and fostering economic development.
“The government is committed to creating an enabling environment for public-private partnerships to thrive. More investors are welcome to explore opportunities in the Centenary City project,” Dangiwa states.
He directs the Ministry’s PPP department to engage with Centenary City Plc to facilitate investor partnerships and collaborate with the Infrastructure Concession Regulatory Commission (ICRC) for necessary regulatory support.
Senator Anyim calls for the Ministry’s collaboration in realizing the Centenary City vision. He urges government support in securing funding that would enable cooperative societies and individuals to acquire homes within the city, making it more accessible to Nigerians.
The Centenary City project is a mixed-use smart city development in Abuja, being developed as a joint venture between Front Range Developers of the UAE and Centenary City Plc. Former President Muhammadu Buhari previously commended the project’s main development partners from the UAE for their confidence in Nigeria’s investment potential.
Despite its ambitious goals, the project has faced allegations of underhand dealings and bureaucratic challenges, hindering its progress. The renewed government focus on investment and partnerships aims to overcome these obstacles and ensure the project’s successful execution.