Senate moves to Investigate Delay in Completion of $18.5 Billion Abuja Centenary Economic City Project

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The Senate, on Tuesday, May 7, formed a seven-member ad-hoc committee to probe the factors hindering the conclusion of the $18.5 billion Abuja Centenary Economic City project, a decade after its initiation.

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Tasked with evaluating the original public-private partnership agreement, the committee is mandated to propose necessary amendments to facilitate the project’s smooth and timely completion within a specified timeframe.

Furthermore, the Senate called upon the federal government to prioritize the revitalization of the Centenary City initiative by extending appropriate support, resolving regulatory challenges, and addressing any other obstacles. This move is deemed essential considering the project’s potential economic benefits to Nigeria and its populace after ten years of stagnant progress.

The Senate’s resolutions emerged following deliberations on a motion titled “Urgent Need to Revive and Complete the Stalled Centenary City Project to Realize Its Economic and Developmental Potential” during plenary.

Spearheaded by Senator Ashiru Yisa, the Deputy Senate Leader representing APC – Kwara South, the motion underscores the significance of the Abuja Centenary Economic City project, which was launched in 2014 under a public-private partnership arrangement aimed at establishing a modern urban center akin to Dubai in commemoration of Nigeria’s amalgamation centennial celebration.

Further details will be provided shortly.


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