Centenary Village To Cost N3.2 Trillion

The proposed Centenary Village, an ultra-modern city within the Federal Capital Territory, FCT, to mark the 100 years of the Nigerian nationhood, will cost N3.2 trillion.

Former head of state, Abdulsalami Abubakar, who is chairman of the board of Centenary Village Plc, disclosed this while presenting a report to President Goodluck Jonathan at the State House, Abuja.

The Centenary Village Plc is a public liability company to be set up by the private sector to finance the project,

The former militaryleader, who led other members of the company’s board to the Presidential Villa, said the Centenary Village would be wholly financed by the private sector.

Abubakar said the board had in the report also requested President Jonathan to grant certain concessions to the private investors who are willing and ready to be part of the project.

“Specifically, government should make the land for the project available with the status of an export free zone. Tax holiday should also be granted to the investors for equipment and materials to be imported for the projects, among others,” he said.

President Jonathan thanked Abubakar and other members of the company’s board for the work done so far.

He said the presentation by Abubakar was not only “fascinating” but reassuring that “our dream that we will get a city better than Abuja is gradually coming to fruition”.




     

     

    Jonathan said the centenary city would be planned in a way where the infrastructure would be centralised.

    “People living there will not need to drill borehole or get personal cylinder for gas, and the management of solid waste and other environmental issues will be centralised,” he said

    Read Also:

    “It is a big dream but we are hopeful that we are getting close. With the board’s commitment and the commitment of government, we will get there,” the President said.

    Jonathan assured that he would consult with relevant cabinet ministers on the requests made by the company’s board before giving approvals and directives.

    Advertisements
    Advert Bracken

    Join the ICIR WhatsApp channel for in-depth reports on the economy, politics and governance, and investigative reports.

    Support the ICIR

    We invite you to support us to continue the work we do.

    Your support will strengthen journalism in Nigeria and help sustain our democracy.

    If you or someone you know has a lead, tip or personal experience about this report, our WhatsApp line is open and confidential for a conversation

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here


    Support the ICIR

    We need your support to produce excellent journalism at all times.

    - Advertisement

    Recent

    - Advertisement