N3.2Trn to be generated from Abuja Land Swap Investment – FCT Minister

The Minister of the Federal Capital Territory Administration, FCTA, Senator Bala Mohammed has disclosed that with the successful implementation of the on-going Abuja Land Swap Initiative, over N3.2 trillion secondary investment is expected to be generated for the Federal Capital Territory.

Speaking while receiving the National Executive Committee of the Nigerian Society of Engineers (NSE), led by its President, Ademola Isaac Olorunfemi, an engineer in his office, the Minister explained that apart from N3.2 trillion, the sum of N450 billion is already accruing to the FCT Administration from the Land Swap primary investment, which according to him, is the cost of the infrastructure to be provided by the investors.

Senator Mohammed who described Abuja as a national mega engineering project that is a success story in the history of Nigeria, however appreciated the contributions of the Nigerian Society of Engineers to the development of this model city.
The Minister reiterated that the Abuja Land Swap Initiative is the first of its kind in the entire African continent, which has only been realized during the transformational period of President Goodluck Ebele Jonathan’s Administration.

While promising to allocate a befitting plot of land for the NSE to construct its head office in the FCT, he challenged the Society to muster all its contacts to get all the needed resources to build a gigantic edifice expected of the professional body, adding that he would support the proposed international engineering conference scheduled for Abuja, even as he said that such a conference will open Abuja to the World and avail the Territory new frontiers.

Earlier in his remarks, NSE President who pleaded with the Minister to allocate a plot of land for the society to build its headquarters, however solicited for continued cooperation of the FCT Administration and the Society for the mutual benefits of the two bodies.