Daily Trust (Abuja)

8 December 2012

Nigeria: FCT Minister Signs N302 Billion Agreement With Land-Swap Investors

The FCT Minister, Senator Bala Abdulkadir Mohammed (CON) on Thursday officially signed a Memorandum of Understanding (MoU) with 13 Land-Swap investors to immediately commence the opening up of new new districts in the Federal Capital City, Abuja.

The Minister who signed the MoU on behalf of the FCT Administration with the investors at the Banquet Hall of the official residence of the FCT Minister at Gwarinpa I District (Life-Camp), Abuja, expressed joy over the realization of this vision that promises to expand the infrastructure of the Federal Capital City.

According to him, due diligence was properly carried out, and all the investors have technical capability with robust financial plans that will bring in over N300 billion investment from banks in and outside the country.

He disclosed that all these investors have technical partners in Europe and Americas and have proved to have the muscle to pull through the arrangement.

The Minister said that 15 investors indicated interest, 13 of them were able to conclude the process, one of them was given extension while one of them has backed out.

The Chairman of Rosehill Group, Suleiman Yahaya, who spoke on behalf of other investors appreciated the speedy way the FCT Administration responded.

He promised to meet the expectations of the Federal Government to deliver these districts to the people of Nigeria at a very good time.

Ads by Google

Copyright © 2012 Daily Trust. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 2,000 reports a day from more than 130 news organizations and over 200 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.