… Execution estimated to cost N2.48 Trillion as FG has 5 % equity
After 11 years of being abandoned, stakeholders of the Abuja Centenary City Project, have renewed interest in the execution of the project conservatively estimated to cost N2.48 trillion ($1.6 billion).
Already, the Board of the Centenary City Plc, which is reposed with the responsibility of overseeing the project into fruition, has officially engaged Messers Julius Berger Nigeria Plc with the endorsement of a Memorandum of Understanding (MoU) for the provision of infrastructure to the Centenary City at the cost of N750 billion.
The Board also retained Messers Dar Al-Handasah Consultants (DAR), which coordinated the master plan of the city from the inception, to execute the detailed Engineering Design of the entire project.
OPTIMUM TIMES recalls that former President Goodluck Jonathan, at the twilight of his administration in 2014, conceived the idea and laid the foundation stone to commemorate Nigeria’s centenary (100 years since the 1914 amalgamation). Its development was fashioned along Public-Private Partnership (PPP) to develop a modern city, similar to Dubai, within the Federal Capital Territory. The Federal government is currently holding 5% equity.
The Development of the project was stalled since 2015 till the present stage by change of administration and policy inconsistencies.
Briefing Journalists on Tuesday at the Centenary City, Abuja, on the renew efforts to resuscitate in full swing the construction work, the Managing Director of the Centenary City Plc, Dr. Odenigwe Ike Micheals Jr., explained that the development would be taken in three phases.
According to him, the first phase would cost N750 billion, second phase which is subdivided into three layers A, B and C would respectively cost N500 Billion, N500 Billion and N850 Billion while Phase three would cost N300 Billion.
He explained that some of the key components of Centenary City includes: Five Star Hotels, Luxury Serviced Apartments and Residences,
International Commerce Centre (ICC),
Centenary International Convention Center (CICC), Mall of Africa
Championship Golf Course and Golf Estate, Championship Polo Courses and Polo Estate, Nigeria Park, Safari Park, Industrial Park, African Arts Museum, Entertainment District and Amusement Park, Various Healthcare and Educational facilities, Extensive and broad variety of residential dwellings, among other esthetics.
He stressed that the idea of engaging reputable companies to handle the project is to guarantee the development of the city according to the vision reflected in the original master plan.
According to Dr. Odenigwe, “Centenary City Project presents a great opportunity to create value and raise Abuja’s profile – to encourage international investment in Abuja. The project is designed to work in harmony with nature. The districts and communities are designed to fit in among the natural landscape, offering both an impressive downtown skyline and peaceful suburban living. The city is conceptualized as a truly multifunctional development that offers a complete cosmopolitan lifestyle to its residents, as well as serves as a tourism hub for the wider community.”
Explaining why there was a halt in the execution of the projects while entertaining questions from Journalists, he attributed it to changes in government and policy inconveniences.
The Centenary City Plc Managing Director, however, acknowledged the unwavering supports of the Minister of Federal Capital Territory, Nyesom Wike and the Minister of Housing and Urban Development, Arc. Ahmed Musa Dangiwa for their believe in modern urban renewal in the project.
On the foreseeable future challenges, he enumerated that the current inflationary trend has affected the cost of building materials, adding however that they would have to cope with the threat without compromising standards.
He assured that all the land owners had been settled and while inhabitants of the communities within the area acquired for the Centenary City are being relocated to Gude, adding that already construction of houses for them there are in top gear.
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