A Lucrative Investment Opportunity
The federal government is inviting investors to take advantage of opportunities in Centenary City, Abuja. This $18.5 billion project offers profitable prospects for investors and homebuyers.
Covering 1,500 hectares, the city is designed to be Africa’s largest of its kind. It aims to create a modern urban hub and serve as a tribute to Nigeria’s 100th anniversary.
Job Creation and Economic Growth
The project will generate:
- 250,000 direct jobs in the Federal Capital Territory.
- 500,000 indirect jobs from construction and related activities.
It follows the Dubai model, bringing in global expertise to build world-class infrastructure and boost Nigeria’s economy.
Alignment with Tinubu’s Housing Vision
According to Ahmed Dangiwa, Minister of Housing and Urban Development, the city supports President Tinubu’s Renewed Hope City plan. He highlighted its inclusive design, which includes varied housing options, sports facilities, and medical tourism hubs.
Dangiwa shared these insights during a meeting with Pius Anyim, Vice Chairman of Centenary City Plc, who led a delegation to his office.
Government Support and Challenges
Originally introduced under former President Goodluck Jonathan, the project aims to attract global investment and position Nigeria as a prime business hub. However, delays and undisclosed challenges have slowed its progress.
Dangiwa emphasized the importance of Public-Private Partnerships (PPPs) in addressing Nigeria’s housing deficit. He assured investors that the government supports such projects and is working to ensure affordable housing.
He directed the PPP department to collaborate with Centenary City Plc and the Infrastructure Concession Regulatory Commission (ICRC).
A Call for Collaboration
Anyim urged the Housing Ministry to assist in securing funding. He stressed the need for financial support to help cooperative societies and individuals own homes in the city.
The project is a joint venture between Front Range Developers (UAE) and Centenary City Plc. In the past, allegations of irregularities slowed progress.
Despite this, former President Muhammadu Buhari praised the development partners for investing $18.5 billion in Nigeria.
With renewed government backing, Centenary City is set to transform Abuja’s urban landscape, creating endless opportunities for investors and residents.
