The Nigerian Senate has set up a seven-member ad-hoc committee to investigate the factors impeding the completion of the $18.5billion Abuja Centenary Economic City project 10 years after of commencement.
The Upper Chamber tasked the committee to review the original public private partnership agreement and recommend amendments, if necessary, to facilitate smooth and expeditious completion of the project within a defined timeframe.
Regulatory issues
The Senate also urged the federal government to prioritise the revival of the Centenary City project by providing appropriate support, resolving regulatory issues and addressing any other impediments, given its beneficial potential to the economy and people of Nigeria after 10 years of stalled progress.
The resolutions of the senate followed its consideration of a motion titled: “Urgent need to revive and complete the stalled Centenary City Project, to realise its economic and development potential” during plenary on Tuesday.
The motion was sponsored by the Deputy Senate Leader, Senator Ashiru Yisa (APC – Kwara South).
Amalgamation
Senator Yisa in his lead debate, urged colleagues to note that the Abuja Centenary Economic City project commenced in 2014 through a public private partnership to develop a modern city in the mood of Dubai to commemorate 100 years of Nigeria’s amalgamation celebration.
The Abuja Centenary Economic City Project will be built to model global smart cities like Dubai, Monaco and Singapore.
The Project is a private sector driven one that was launched to mark the 100th anniversary of Nigeria by January 1st 2014.
The ambitious project is expected to cost $18b (N2. 4tr) and take 10 – 15 years to complete.
Lateefah Ibrahim
