The Senate has taken steps to revive and complete the long-abandoned Abuja Centenary Economic City project situated along Airport Road in the nation’s capital.
Lawmakers unanimously passed a resolution urging the Federal government to prioritize the revitalization of the project by providing necessary support, resolving regulatory issues, and addressing any impediments that have hindered its progress over the past decade.
Speaking on the resolution, Lola Ashiru, the senator representing Kwara South Senatorial District in the 9th Senate, highlighted the significance of the project, comparing it to model smart cities like Dubai, Monaco, and Singapore.
Launched to commemorate Nigeria’s 100th anniversary on January 1, 2014, the project was initially estimated to require a massive $18.5 billion investment, equivalent to Nigeria’s current national budget.
The ambitious venture aimed to serve as an economic hub, generating over 150,000 construction jobs, 250,000 permanent employment opportunities, accommodating more than 200,000 residents, and attracting over 500,000 daily visitors, among other benefits.
Expressing concerns over the project’s prolonged stagnation, Senator Ashiru emphasized the need for regulatory clarity and efficient implementation to align with its original vision.
On his part, Senator Ali Ndume (Borno Central), underscored the legacy potential of completing the project, likening it to transformative developments witnessed in other countries.
While speaking, the President of the Senate, Godswill Akpabio, stressed the urgency of addressing Abuja’s congestion and highlighted the private sector’s pivotal role in driving the project forward.
”Ensuring the timely realization of such transformative projects contributes to national development and prosperity,” Akpabio stated.
In response, the Senate mandated its Committee on the Federal Capital Territory (FCT) to investigate the factors hindering the project’s completion promptly.
”The committee will review the original public-private partnership agreement and recommend any necessary amendments to facilitate the project’s swift conclusion within a specified timeframe,” the Senate noted.
