The Senate Committee in charge of Federal Capital Territory (FCT) has endorsed the establishment of a multi-billion-naira city located within the territory. It described the project as a heritage programme of the Nigerian centenary celebration.In a report the committee compiled after an independent investigation of the project, it was made clear that “the centenary city project will stimulate both foreign and domestic investment to the tune of $18 billion, create 250,000 well-paying jobs, promote world-class urban infrastructure, leisure and entertainment and attract multinational retail chains to Nigeria, among other things.
The report signed by the chairman of the committee, Dino Melaye, which said the programme would support the urban renewal of Abuja and earn outstanding revenue for the FCT, also said that the project is entirely a private sector project that will be completed at no cost to the government.
It further stated that:
“The Centenary City Plc. (CC Plc or the company) is a public limited liability company formed by interested Nigerian and foreign investors for the purpose of carrying on the centenary city project”.
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