FEC okays resumption of Abuja land swap scheme
The Federal Executive Council (FEC) has approved resumption of the Federal Capital Development Authority’s (FCDA) land swap initiative started by the previous administration.
Minister of the Federal Capital Territory (FCT), Mohammed Bello, made the disclosure at the end of yesterday’s meeting presided over by President Muhammadu Buhari in Abuja.
The project, whose worth was put at about N1 trillion under the immediate past Senator Bala Mohammed-led administration, was specifically designed to remedy the infrastructure deficit in the federal capital city by swapping land with private investors that would in turn provide necessary amenities.
While introducing the policy, Mohammed had told residents that the initiative involved granting Greenfield lands to real estate developers, who would provide infrastructure such as roads, electricity, portable water, drainages, sewer lines and communication ducts without any financial or technical demand on government.
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