Abuja, Nigeria – The Federal Government has issued a fresh call for investors to participate in Abuja’s landmark $18.5 billion Centenary City project, Africa’s largest master-planned development designed to mirror Dubai’s smart city model.
Project Highlights
- 1,500hectare mixed-use development commemorating Nigeria’s centenary
- 750,000 total jobs expected (250,000 direct, 500,000 indirect)
- Smart city features: Medical tourism hub, sports facilities, diverse housing options
- Joint venture between UAE’s Front Range Developers and Nigeria’s Centenary City Plc
Government Backing
Housing Minister Ahmed Dangiwa confirmed the project aligns with President Tinubu’s Renewed Hope Cities agenda, stating: “This PPP model will address housing deficits while creating massive employment opportunities.”
During a meeting with Centenary City Plc delegates led by former SGF Pius Anyim, Dangiwa:
- Directed ministry’s PPP department to facilitate investor partnerships
- Recommended collaboration with Infrastructure Concession Regulatory Commission (ICRC)
- Emphasized affordable housing components for cooperative societies
Overcoming Past Challenges
Initiated under President Jonathan’s administration, the project faced:
- Delayed implementation for undisclosed reasons
- Controversies regarding development agreements
- Despite this, former President Buhari praised the $18.5bn foreign investment commitment as a vote of confidence in Nigeria’s economy.
Investment Opportunities
The city offers:
- Commercial real estate development
- Infrastructure financing
- Residential housing projects
- Tourism and healthcare facilities
“We need ministry support to secure funding mechanisms for home-ownership,” stated Anyim, highlighting the project’s potential to position Nigeria as Africa’s premier business destination.
