Monday, May 20, 2024

Senate moves to investigate $18.5bn abandoned Abuja Centenary City project

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The Senate has arrange a seven-member ad-hoc committee to analyze the circumstances surrounding the delay within the completion of the $18.5 billion Abuja Centenary Financial Metropolis undertaking 10 years after graduation.The committee was arrange following a movement sponsored by the Deputy Senate Chief, Senator Ashiru Yisa, titled, ‘Pressing must revive and full the stalled Centenary Metropolis Venture, to grasp its financial and improvement potential’.

Yisa, in his lead debate, urged colleagues to notice that the Abuja Centenary Financial Metropolis undertaking commenced in 2014 by a public non-public partnership to develop a contemporary metropolis within the temper of Dubai, to commemorate 100 years of Nigeria’s amalgamation.

The committee was tasked to evaluation the unique public non-public partnership settlement and advocate amendments, if mandatory, to facilitate easy and expeditious completion of the undertaking inside an outlined timeframe.

The Senate additionally urged the Federal Authorities to prioritise the revival of the Centenary Metropolis undertaking by offering applicable assist, resolving regulatory points and addressing some other impediments, given its helpful potential to the financial system and other people of Nigeria after 10 years of stalled progress.

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