FCTA improving infrastructure to enhance investment opportunities – Wike

Minister of the Nigerian Federal Capital Territory (FCT), Mr. Nyesom Wike, says the FCT Administration is improving infrastructure in the territory to enhance investment opportunities.

He stated this on Wednesday at the first edition of the Abuja Business and Investment Summit, 2024, in Abuja.

The summit was organized by the Abuja Investment Company Ltd (AICL) with the theme, “Optimising Investments through Partnership.”

The minister said that the FCTA recognized infrastructure as the backbone of any successful investment.

“That is why we have prioritized the development of roads, transportation networks, and utilities to ensure seamless connectivity within the territory.

“From bustling urban areas to our beautiful rural communities, we are committed to improving infrastructure to enhance accessibility and attract investments,” he said.

The Minister disclosed that plans have been concluded to inaugurate nine major projects across the territory.

The move, according to him, will undoubtedly enhance investment opportunities across the territory.

In his keynote address, the Governor of Anambra state, Charles Soludo emphasized the importance of investing in education, particularly in technical and vocational training.

Soludo also stressed the need for government at all levels to provide jobs for the people.

“This is to ensure that we unleash the potential of our young people, so they can contribute meaningfully to our economy.

“It is also important to note that the sustainability of Nigeria’s investments lies in empowering its people.

“If we don’t give our youth the tools to participate in tomorrow’s economy, they will become a liability and the rich will not sleep peacefully if the poor are restless,” the governor said.

The governor further called for a renewed focus on sustainable investments for inclusive growth that benefits the entire population.

He pointed out that while foreign investments were important, not all are beneficial, stressing that not all investments are good.

“We must, therefore, ensure that any investment coming into Nigeria is a win-win situation.

“This is because many come with proposals, but they don’t serve our long-term interests. We have to be strategic,” he added.

Soludo equally stressed the need for Nigeria to empower local industries, particularly manufacturing, which can generate sustainable jobs and reduce reliance on imports.

Upgrade Informal Settlements

Meanwhile, at the summit, an architectural and building construction firm, All Purpose Shelters Ltd (APSL), urged the Minister of the Federal Capital Territory (FCT), Mr. Nyesom Wike to upgrade informal settlements across the territory.

The Managing Director and Chief Executive Officer of the company, Dr Yemisi Suswam pointed out that the informal settlements were growing in numbers by the day with a corresponding expanded population across the territory.

She attributed the increasing number of informal settlements to the influx of mass population movement from the states to the capital city in search of greener pastures.

She said that informal settlements have become part of the complexities of urban cities as urban housing schemes were not accessible to the majority of city dwellers.

“There is the need, therefore, to look into upgrading such settlements to align with the development expectations of the nation’s capital.

“This will be a paradigm shift from the practice of allowing the settlements to grow in numbers and population before bulldozers will come and pull the settlements down,” she said.

She expressed the readiness of development partners to tap from AICL’s open doors.

Responding, the FCT Minister pointed out that no city would grow without planning, adding that, “we can’t build houses without a development plan. Nobody does that.

“The mere fact that you migrated from the rural area down to the city, does not mean that we will jettison the rules and regulations governing city development.

“So, for those living in shanties or informal settlements, when you see bulldozers coming, it is simply to comply with the rules and regulations,” he said.

He said the measure was necessary because criminals take advantage of the situation to perpetuate their evil acts.