The Senate has taken action to address the stalling of the $18.5 billion Abuja Centenary Economic City project, setting up a seven-member ad hoc committee to investigate the cause and recommend solutions. Directed to review the original public-private partnership (PPP) agreement, the committee aims to expedite the completion of the project within a defined timeframe.
With a focus on boosting the economy and advancing national development, the Senate called on the Federal Government to prioritize the revival of the project. This entails providing necessary support, resolving regulatory issues, and overcoming any impediments hindering progress.
The initiative follows a motion titled “Urgent need to revive and complete the stalled Centenary City Project, to realize its economic and development potential,” brought before the Senate during plenary. Senator Yisa, in his lead debate, highlighted that the project commenced in 2014 under a PPP arrangement, envisioned to transform Abuja into a modern city akin to Dubai, commemorating 100 years of Nigeria’s amalgamation.
The original vision aimed at establishing the Centenary Economic City as a potential economic hub, generating significant employment opportunities and attracting visitors. Designated as a free trade zone, the project falls under the regulatory oversight of the Nigerian Export Processing Zones Authority, alongside other statutory agencies like the Federal Capital Territory Administration, the Abuja Investment Company (AIC), and the Abuja Infrastructure Investment Centre (AIIC).
