Centenary City development holds promise for more 250,000 jobs in FCT
It was an exciting piece of information at the weekend when the promoters of the Centenary City in Abuja, the Federal Capital Territory (FCT), disclosed that the development of that city holds promise for more 250,000 direct jobs in the FCT and over 500,000 construction (indirect) jobs.
Additionally, skills, expertise and vast experience will be brought into the country to build that City on the Dubai model, and it is hoped that they will also be of immense benefit to Nigeria’s overall development.
The Centenary City, envisaged as a spectacular city hub, is a fitting tribute to Nigeria on its 100th year of formation and sits on 1,500-hectare master-planned community as the largest of its kind in Africa.
A multifunctional development that offers a complete cosmopolitan lifestyle to its residents, as well as serves as a hub for the wider community, the City is a smart, inter-connected urban centre that draws on innovative technologies.
The City promises a central business district, a financial centre, a museum and cultural centre to promote African and global arts, world-class hotels, business and technology parks, residential districts, an 18-hole golf course, industry centres, sports and leisure facilities and community amenities.
The development of this city is handled by a company (special purpose vehicle (SPV)) known as Centenary City Plc with Odenigwe Michael as managing director, and a board of directors chaired by former head of state, Abdusalam Abubakar.
Michael disclosed after a meeting with President Muhammadu Buhari at the Aso Rock Villa in Abuja at the weekend that the company, owned by 40 local and international investors, was being sponsored by the Sovereign Wealth Fund (SWF).
“Centenary City Plc is owned by 40 Nigerian and international investors and our partner, the Eagles Hill; the project is sponsored by the SWF which has over $12 million in its management under agreement with the Federal Capital Development Authority (FCDA) and other extant agreements; we have paid all the interested holders the compensation for the Centenary City site; we are going ahead with their relocation, which is also being supervised by the FCDA”, Michael said.
Abubakar had, earlier at the meeting, assured President Buhari that all the original inhabitants of the site had been fully compensated which, apparently, put to rest the raging controversies over the ownership of the city.
An elated President Buhari praised the Centenary City’s main development partners, Eagle Hills, from the United Arab Emirates for having enough confidence in Nigeria to invest about $18.5 billion in the project, and expressed the desire for regular updates on the City’s development.
Eagle Hills is at the City to build its The Address Hotels + Resorts brand which will redefine the concept of hospitality and residential living in the country. As a global developer of iconic real estate assets and a provider of premium lifestyle that helps countries raise their global profiles to new heights, Eagle Hills’ properties aim to become flagship city destinations.
There have been allegations of inappropriateness in the concept of the City, culminating in an outburst recently by Cairo Ojougboh, a People Democratic Party (PDP) National Vice Chairman (South-South), who petitioned President Buhari, stating the facts relating to the transaction and the role played by Pius Anyim, former secretary to the government of the federation (SGF) in what he described as “a scam” perpetrated by a United Arab Emirates company which, he alleged, operated as a front for Anyim.
CHUKA UROKO