The Minister of the Federal Capital Territory, Malam Muhammad Bello, has underscored the significance of Land Swap initiative aimed at addressing infrastructure deficit in the nation’s capital.
Bello said this on Tuesday at the Official Site Handover and inauguration of Gwagwa District Abuja Phase IV North, FCT for comprehensive Infrastructure Development under the FCT Land Swap Programme.
The News Agency of Nigeria reports that the programme was designed to remedy the infrastructure deficit in the Federal Capital by swapping land with private investors who would in turn provide the necessary infrastructure.
The minister explained that the ceremony signals full resumption of the land swap initiative, which would pave way for provision of the desired infrastructure in the areas earmarked for the development.
According to Bello, the project, which is coming under the land swap initiative, is developed as a means of fast-tracking infrastructure development in the FCT.
He called on the partners involved in the agreement to heed to the terms and conditions of the arrangement.
Bello expressed the hope that the initiative would reduce the overall housing deficit within the FCT.
He stated: “This is one in the series of the projects that we are going to flag off before the end of our administration.
“The FCTA is going to be very tough on ensuring the protection of the interest of the State, people and private partners.”
He explained that the government grant land to private investors, through public private partnership, to boost infrastructural provision in the city.
According to him, investors are expected to within a 10-year development plan facilitate provision of infrastructure development in the given site, and encourage real estate development in line with the standard set by the FCTA.
He added that the initiative would help to resolve issue of compensation and resettlement of indigenous people.
He noted that government alone cannot fund infrastructural provision in FCT, as the cost of development runs into trillions.
Earlier, the FCTA Permanent Secretary, Olusade Adesola, explained that the return to the land swap initiative followed directive of President Muhammadu Buhari to the Ministers to ensure continuation of existing ongoing projects.
Adesola said it was a capital intensive project by a private company in line with the land swap policy, aimed at assisting the FCTA to accelerate the development of the FCT.