FCTA Targets N3.2trn From Land Swap

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FCT-minister-Bala-MohammedThe Federal Capital Territory Administration (FCTA) has expressed opitimism that it will rake in N3.2 trillion from the Abuja Land Swap initiative through secondary investment.

The novel Abuja Land Swap initiative was conceived as part of efforts at opening up new districts where private sector operators are incentivised to provide the required infrastructure within the districts in exchange for 60 percent of buildable plots of land in the district while 40 percent of the plots are retained by the FCTA for allocation.

So far, about 15 districts have been earmarked for this initiative and this affects 17 communities including Azhata, Ketti, Dagaja, Anaknayita, Gofe, Kowyizihi, Burun, Takalafiya, Takushara 1 and 2; Maraba 1 & 2; Sabon Burun, Anguwan Mamuda, Waru, Yiyimuttu and Burum Gbagy.

Bala Ahmed, the FCT Minister says N450 billion has so far come into the administration’s coffer from the Land Swap primary investment as the cost of the infrastructure to be provided by investors.

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