The Senate has resolved to investigate factors impeding the completion of the Abuja Centenary City project after 10 years.
This followed the adoption of a motion titled: “Urgent need to revive and complete the stalled Centenary City Project Abuja to realise its economic and development potential sponsored by the Senator from Kwara South, Yisa, Oyelola, at Tuesday’s plenary in Abuja.
In his lead debate, Oyelola said the Abuja centenary city project commenced in 2014 through a public-private partnership to develop a modern city in the mold of Dubai, the United Arab Emirates (UAE).
He said the project was earlier designed to commemorate the 100 years of Nigeria’s amalgamation.
According to him, the original vision for the project was for it to serve as a potential economic hub with plans to create over 150,000 construction jobs.
Oyelola said: “The project was also designed to create 250,000 permanent well-paying Jobs, residential accommodation for over 200, 000 residents, and facilities to attract over 500,000 daily visitors.
“The original estimated investment for the project stood at $18.5 billion as of 2014.
“The project was also designated as a free trade zone under the regulatory oversight of the Nigerian Export Processing Zones Authority (NEPZA), without prejudice to other statutory agencies like the Federal Capital Territory Administration (FCTA), Abuja Investment Company (AIC) and Abuja Infrastructure Investment Centre (AIIC).”
The lawmaker expressed concern that the project has been stalled for almost 10 years since its commencement.
In his contribution, the lawmaker from Kogi State, Isa Jubril, urged the Federal Government to look out for investment bankers to complete the project.
The Senate in its resolution set up an ad hoc committee to review the original public-private partnership agreement and recommend amendments if necessary.
The committee is headed by the Deputy Senate President, Barau Jubrin.
Other committee members are Senators Solomon Adeola, Titus Zam, and Aminu Tambuwal.
The Red Chamber also urged the federal government to prioritise the revival of the Abuja centenary city project by providing appropriate support and resolving regulatory issues.
The Senate President, Godswill Akpabio, asked the committee to present its report in four weeks
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