The Minister of Nigeria’s Federal Capital Territory, Malam Mohammed Bello has called for strategic private sector participation and partnership in the development of district infrastructure as well as low cost housing in the FCT to give impetus to the accelerated development.
The Minister made the call in Abuja during the opening ceremony of the 3rd Abuja Investment Expo, organised by the Abuja Chamber of Commerce.
Bello said that the Territory cannot achieve meaningful success without the participation of the private sector.
The Minister who was represented by his Chief of Staff, Mohammad Bashir Mai-Borno, noted that the multiplier effects of investments in the FCT would not only energise the economy but would also raise its commercial profile as well as create jobs and lift the standard of living of the residents.
Malam Bello commended the leadership and members of the Abuja Chamber of Commerce and Industry for setting the pace in property development with the Novare Gateway Mall, which was developed in collaboration with a foreign investor, in addition to the Chambers’ six-floor headquarters and 10,000 seat-capacity convention centre situated in a strategic location in the Abuja International Airport.
He explained that the structures have helped to improve the outlook of Abuja cityscape.
The Minister also said that the administration needs strategic partnership with the private sector in the form of public-private-partnership (PPP) projects, particularly in district infrastructure development and low cost housing, adding that, “only you can carry our clarion call to foreign investors as well as form business alliances which would bring foreign partners into Abuja.”
Malam Bello further revealed that the FCT Administration has earmarked about N70 billion in the 2018 budget to help improve infrastructure development and public utilities, both within the capital city and the satellite towns.
He added that efforts are also ongoing to improve the city’s transportation, through the development of the next phase of the Abuja light rail project.
Responding, the Chairman of Abuja Chamber of Commerce and Industry, Prince Adetokumbo Kayode called on the government to introduce favourable policies in the forms of special tax breaks as well as lower interest rates to ensure that investors do not pass the cost of development to the consumers
Nnenna.O
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