26 January 2013

Nigeria: FG's Proposed Centenary City to Attract U.S.$15 Billion Investment

Lagos — Secretary to the Government of the Federation, Anyim Pius Anyim said the proposed Abuja centenary city would bring foreign direct investment worth over $15 billion when completed.

Anyim who was speaking to newsmen in Lagos on the project which marks Nigeria's 100 years of existence said the city would be designed by a reputable world class design team as a contemporary efficient 'mixed-use' city with emphasis on modernity and Nigeria's unique cultural heritage.

To be built on 1,000 hectares of land, Anyim said the city would be revolutionary approach to urbanization in Africa and would support the Jonathan's administration's transformation agenda that champions private sector role in project of significant magnitude. By the end of its planned five-year development cycle, the city would have created over 50,000 construction jobs and permanent well-paying jobs, he said.

He said the land for the centenary city would be acquired in accordance with FCT land swap agreement and being a private sector driven project, government, he said would not put any money into it.

"Government will not put any money. It is also not a concessioning arrangement since government will outsource the project to a company that has secured land allocation in accordance with FCT land swap arrangement," he said.

Anyim said the city is planned for a residential population of about 100,000 people but also to host 500,000 visitors daily

He said city like Dubai, Monaco, Shenzhen and Songdo would be the signpost of Nigeria of the future.

"The city shall promote leisure, tourism, commercial hubs, sports and 20 per cent residential. It shall promote world-class multinational and domestic businesses in a world-class and master planned environment that gives meaning to life, energy for work and pleasure for play while permanently contributing to Nigeria's economic growth, diversity and greatness into the next centenary", he said.

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