No fewer than 15 investors are expected to spend 2.8 billion dollars to provide the needed engineering infrastructure for Abuja Land Swap Initiative, the Minister of FCT, Sen. Bala Mohammed.
This was contained in a statement signed by Mr Mohammad Sule, Chief Press Secretary to the FCT Minister, in Abuja on Tuesday.
It stated that the project would enable the investors to commence the provision of engineering infrastructure in the nine brand new districts in the city.
The districts were Ketti North, Sheretti, Ketti, Sheretti Chechi, Waru Kpozaima, Burum, Burum West, Ketti East and Gwagwa.
According to the statement, the FCT administration has concluded arrangements for President Goodluck Jonathan to perform the ground breaking of the initiative on Thursday.
“15 investors are expected to spend more than 2.8 billion dollars (about N560 billion) to provide the needed engineering infrastructure.
The initiative, it stated, would leverage on FCT land resource for infrastructure provision and free the funds in possession of the government for other social services like education, health and environment.
“We estimate that this initiative will provide additional housing for more than 1,000,000 residents which will further reduce the housing deficit by about 35 per cent in the next five years.
“It will put more money in the hands of FCT administration for human development activity, particularly in the areas of health and education.
“The initiative will further provide more than 1,000,000 skilled and unskilled employment to the residents of the Federal Capital Territory in particular and Nigeria in general,” it stated.
The statement stated that the investors would also spend more than N64 billion on the resettlement and compensation challenges.
