The Senate has taken action by establishing a seven-member ad-hoc committee to investigate the prolonged delay in completing the $18.5 billion Abuja Centenary Economic City project, which has remained stagnant for a decade since its inception.
This move comes after a motion presented by Deputy Senate Leader, Senator Ashiru Yisa, highlighting the urgent need to revive and complete the stalled project to harness its economic and developmental benefits.
Initiated in 2014 as a public-private partnership to create a modern city akin to Dubai in commemoration of Nigeria’s centenary, the project has faced setbacks in its execution.
The committee’s mandate includes a thorough review of the original public-private partnership agreement and proposing necessary amendments to expedite the project’s completion within a specified timeframe.
Furthermore, the Senate calls upon the Federal Government to prioritize the revitalization of the Centenary City project by offering essential support, resolving regulatory challenges, and addressing any obstacles hindering its progress. This initiative aims to unlock the project’s significant potential for the Nigerian economy and its citizens after a decade of stagnation.
