Jonathan kicks off N2.9 trillion Centenary City

PRESIDENT Goodluck Jonathan, on Tuesday, performed the groundbreaking ceremony to signal the take-off of the new Centenary City, Abuja, expected to cost about N2.976 trillion, scheduled to complete in 10 years.

The city, located on Airport Road, Abuja, is being built to commemorate the centenary of the amalgamation of the Northern and Southern Protectorates of Nigeria.

In his remarks, Jonathan noted that the project, designed to cover 1,200 hectares of land, would serve as  a symbol of the nation’s unity.

He said the city “is a symbolic demonstration of his administration’s determination for excellence,” noting that it promised a “unique and global standard” in real estate project.

The president added that the project, when completed, would combine the features of a modern city, including beauty and architectural creativity, adding that his government was determined to make it viable and sustainable.

“We don’t want to build a city where everybody will have maiguard (security guards). We don’t want a city where everybody will dig boreholes and where everybody will be buying generators,” he said.

In his address, chairman of the Centenary City Plc, the private concern responsible for the building of the city, former military head of state, General Abdusalam Abubakar, lauded the project, noting that it would only succeed when there is peace in the country.

He disclosed that the sum of N2.976 trillion had been mopped up to develop the 1,200 hectares of land earlier earmarked by the Federal Capital Territory (FCT) Administration for the purpose.

He said a total of N1.2 billion, being 100 per cent compensation, had also been paid for economic trees of the original inhabitants, as well as structures of some non-natives situated in the area, while the plots of lands had been earmarked for residential houses and commercial purposes.

Secretary to the Government of the Federation (SGF), Senator Pius Anyim, in his address, said the city was not a housing project, but strictly an economic one, adding that the residential area that would be provided would only complement the business concerns.

The city will be the second largest private city development in history and signals a new national economic awakening.

It will incorporate a free trade zone, duty free regime, tax holidays and non-regulated banking services, in an effort to boost trade and investment in Nigeria and make it a replica of the success in Dubai, United Arab Emirates, Monaco, Shenzhen, Singapore and Songdo.

- Nigerian Tribune.