ABUJA – Nigeria’s government through its Ministry of Housing and Urban Development says that $18.5 billion in investment opportunity abounds in the Centenary City Project, Abuja, calling on investors to take advantage of the business windfall.
Making this pitch was Arc. Ahmed Musa Dangiwa, minister in charge of the ministry, recently while renewing calls for investors to explore opportunities in the burgeoning property markets in the nation’s capital.
Dangiwa, made this announcement during a meeting with a high-level delegation from Centenary City Plc, led by Vice Chairman Senator Pius Anyim.
Initiated in 2014 under former President Goodluck Jonathan to commemorate Nigeria’s centenary, the Centenary City project aims to create a smart, master-planned city that attracts global investment and positions Nigeria as a key business destination.
However, its progress has been hindered over the years, leading the Senate in 2024 to form a seven-member committee to investigate the obstacles to its completion.
Dangiwa, noted that the project’s objectives align with President Bola Tinubu’s Renewed Hope City agenda, emphasising the need for inclusive living options and facilities such as sports and medical tourism.
He stressed the importance of Public-Private Partnerships (PPPs) in addressing housing shortages and creating jobs during the project.
The Ministry has received interest from potential investors, and Dangiwa stated that more would be invited to explore opportunities at Centenary City.
He affirmed the government’s commitment to providing affordable housing while fostering a supportive environment for PPPs.
He directed the PPP department to collaborate with Centenary City Plc to facilitate investor partnerships and connect them with the Infrastructure Concession Regulatory Commission (ICRC).
Senator Pius Anyim requested the Ministry’s assistance in securing funding for cooperative societies and individuals to own homes within the development.
The Centenary City project, a mixed-use smart city development in Abuja, is a joint venture between Front Range Developers of the UAE and Centenary City Plc.
Former President Muhammadu Buhari praised the UAE investors for their substantial commitment to the project, valued at $18.5 billion, although allegations of misconduct have since emerged, slowing its advancement.
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