Senate committee on the Federal Capital Territory (FCT) has revealed that the Centenary City project initiated in 2014 by the administration of President Goodluck Jonathan will stimulate $18 billion foreign and domestic investment and, also, create 250,000 jobs.
According to a report of the committee, which probed the legality or otherwise of the project and signed by its chairman, Dino Melaye, due process was followed in the allocation of land for the project, as well as other sundry issues.
There have been allegations and counter-allegations over claims that the allocation of the 1,264.78 hectares to the developer of the Centenary City project, Centenary City Plc, did not follow due process.
Following the uproar, the Committee on FCT, convened a public hearing where the various parties involved, including the FCT Administration and Centenary City Plc testified. The committee’s final report, a copy of which was obtained, indicated there had been a lot of misinformation, misunderstanding and misconception about the project.
“There is no gain saying the economic benefits are huge, the social benefits immeasurable, and the political benefits cannot be imagined.”
“We make bold to say that agencies of government should endeavor to come to terms with the fact that governments do not “supervise” private sector projects; government only regulates them. To discourage a project of this nature for any reason is a great disservice to the nation,” a part of the report said.

Credit: Sun