History was made today as the FCT Minister, Senator Bala Abdulkadir Mohammed (CON) officially signed a Memoradum of Understanding (MoU) with 13 Land-Swap investors to immediately commence the unprecedented opening up of 8 new districts in the Federal Capital City, Abuja.
The Minister who signed the MoU on behalf of the FCT Administration with these investors at the Banquet Hall of the official residence of the FCT Minister at Gwarinpa I District (Life-Camp), Abuja expressed joy over the realization of this vision that promises to expand the infrastructure of the Federal Capital City.
Senator Mohammed revealed that each of the investors paid the sum of N350 million to the FCT Administration being fees for survey maps, detailed land use plan, engineering design, demographic reports, legal documentation and other ancillary services to qualify.
According to him, due diligence was properly carried out, and all the investors have technical capability with robust financial plans that will bring in over N300 billion investment from banks in and outside the country.
Senator Mohammed reiterated that with the landmark event, the FCT Administration bids farewell to land fraud and racketeering as this pioneering initiative takes-off.
He disclosed that all these investors have technical partners in Europe and Americas and have proved to have the muscle to pull through the arrangement.
The Minister said that 15 investors indicated interest, 13 of them were able to conclude the process, one of them was given extension while one of them has backed out.
The companies which signed the MoU include Rosehill Group, Afri-International Projects Limited, Bolmus Nigeria Limited, Ridley Group, CRCC Nigeria Limited and Hongye Group. Others are AM-PM Global Network Limited, Urban Shelter Infrastructure Limited, Gilmor Engineering Services Limited, First Aries Petroleum & Crude Oil Production, System Properties & Development Consortium Limited; PIMA International Limited, Ketti Infrastructure Limited. Dangote Group got extension while Adkan Services Limited did not respond.
The Chairman of Rosehill Group, Suleiman Yahaya who spoke on behalf of other investors appreciated the speedy way the FCT Administration responded.
He promised to meet the expectations of the Federal Government to deliver these districts to the people of Nigeria at a very good time.
The event was also attended by the Chairmen of the FCT Senate and House of Representatives Committees on FCT as well as top government functionaries of the FCT Administration.
