FG To Pump $3 Trillion Into National Master Plan
Speaking during the official flag-off ceremony of the FCT land swap initiative, President Goodluck Jonathan, who was represented by the Vice President, NamadiSambo, noted that the sectors for the investment would include energy, for about $1 billion and transportation for $775 billion.
Others would be agriculture, water and mining for $400 billion, housing and regional development $350 billion, and ICT for $325 million, social infrastructures would gulp $150 billion, while $50 billion had been earmarked for vital registration and security.
He said: “It is in this regard that the FCT administration is partnering with 15 investorsin the provision of engineering infrastructure through the Abuja Land Swap Initiative, which will generate more than one million jobs”
According to the President, FCT will require about N2.6 trillion in the next four years and 65 percent would be targeted at providing infrastructure in the territory to march the integrated infrastructure master plan, adding that the Abuja Land Swap Initiative will reduce housing deficit in the federal capital territory.
He said the concept of the Abuja master plan envisaged a territory that would be built in 25 years with 79 districts, 9 in sector and 11 satellite towns with maximum population of 3.2 million people.
He added that the population of FCT was approximately five million people with 11 districts completed in 38 years. The population of the territory would increase to 10 million by 2025.
According to Jonathan, the 15 Land Swap investors are would be providing a total of 464km of new roads, 7 bridges, 696km of street lighting lines and 334km of telecommunication ducts.
Other components include 2,566km of electricity distribution lines, 643km of water distribution lines, 636km of foul water drains, 672km of storm water drains and 226 culverts.
He said in realising the inadequacies of an infrastructure plan, he had directed that “a 30 year national integrated plan be put together by stakeholders. This plan had been presented to the Federal Executive Council (FEC) and had been dully approved”, he said.
In his speech, Minister of Federal Capital Territory, Senator BalaMuhammed, said the land swap initiative entailed the grant of land in a green field area to competent developers for real property development.
The minister pointed out that the total land area designated for the Land Swap investment is “3,886 hectares”, which represents less than 0.50% of the FCT and less than 15% of the entire city.
He added that, “We hope in the next 4-6 years to increase the Abuja infrastructure stock by more than 27 percent”.
He added “the project will further strengthen the financial capacity of both the public sector and our local investors, with the federal government generating not less than $120 million as payments for VAT alone.
He said also that “in exchange, the developers are to provide specified infrastructure in these districts including the responsibility for resettlement and compensation of affected original inhabitants.
Out of the fifteen investors shortlisted for the programme, six companies had concluded on all aspects of the technical and financial negotiations including the execution of the necessary agreement which was done on the 23rd of September 2014.
These companies are Urban Shelter Infrastructure Limited; System Property Development Company, Afri-International Projects Limited, BGD Properties Limited, Glimor Engineering Company and AM-PM Global Network Limited.
He added that Dangote Group and 7 other investors have concluded all aspects of preliminary technical works and are awaiting final negotiation leading to the execution of the relevant agreements.
“We succeeded to get to this level of project preparation because, as can be seen from the list of these investors, we attracted the best of Nigerian investors including the richest person in Africa and the richest black woman in the world as well as prominent construction and property development companies to key into the initiative.
Speaking on the resettlement of the original inhabitants, the minister announced that the investors are committing the sum of N64 billion for the funding of infrastructure and housing for the project affected persons at Gude Resettlement District.
Bala informed that the initiative will also create 25,000 plots of lands, provides housing for more than one million residents and create over 500, 000 new jobs.
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