{"id":175,"date":"2025-02-25T18:07:50","date_gmt":"2025-02-25T18:07:50","guid":{"rendered":"https:\/\/propertymarketplace.com.ng\/blog\/?p=175"},"modified":"2025-04-15T18:11:32","modified_gmt":"2025-04-15T18:11:32","slug":"nigeria-opens-18-5bn-centenary-city-project-to-global-investors","status":"publish","type":"post","link":"https:\/\/propertymarketplace.com.ng\/blog\/2025\/02\/25\/nigeria-opens-18-5bn-centenary-city-project-to-global-investors\/","title":{"rendered":"Nigeria Opens $18.5bn Centenary City Project to Global Investors"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Abuja, Nigeria \u2013 The Federal Government has issued a fresh call for investors to participate in Abuja&#8217;s landmark $18.5 billion Centenary City project, Africa&#8217;s largest master-planned development designed to mirror Dubai&#8217;s smart city model.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">&nbsp;Project Highlights<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>1,500hectare mixed-use development commemorating Nigeria&#8217;s centenary<\/li>\n\n\n\n<li>750,000 total jobs expected (250,000 direct, 500,000 indirect)<\/li>\n\n\n\n<li>Smart city features: Medical tourism hub, sports facilities, diverse housing options<\/li>\n\n\n\n<li>Joint venture between UAE&#8217;s Front Range Developers and Nigeria&#8217;s Centenary City Plc<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">&nbsp;Government Backing<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Housing Minister Ahmed Dangiwa confirmed the project aligns with President Tinubu&#8217;s Renewed Hope Cities agenda, stating: &#8220;This PPP model will address housing deficits while creating massive employment opportunities.&#8221;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">During a meeting with Centenary City Plc delegates led by former SGF Pius Anyim, Dangiwa:<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>Directed ministry&#8217;s PPP department to facilitate investor partnerships\u00a0<\/li>\n\n\n\n<li>Recommended collaboration with Infrastructure Concession Regulatory Commission (ICRC)<\/li>\n\n\n\n<li>Emphasized affordable housing components for cooperative societies<\/li>\n<\/ol>\n\n\n\n<h2 class=\"wp-block-heading\">&nbsp;Overcoming Past Challenges<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Initiated under President Jonathan&#8217;s administration, the project faced:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Delayed implementation for undisclosed reasons<\/li>\n\n\n\n<li>Controversies regarding development agreements<\/li>\n\n\n\n<li>Despite this, former President Buhari praised the $18.5bn foreign investment commitment as a vote of confidence in Nigeria&#8217;s economy.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">&nbsp;Investment Opportunities<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>The city offers:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Commercial real estate development\u00a0<\/li>\n\n\n\n<li>Infrastructure financing\u00a0<\/li>\n\n\n\n<li>Residential housing projects\u00a0<\/li>\n\n\n\n<li>Tourism and healthcare facilities\u00a0<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">&#8220;We need ministry support to secure funding mechanisms for home-ownership,&#8221; stated Anyim, highlighting the project&#8217;s potential to position Nigeria as Africa&#8217;s premier business destination.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Abuja, Nigeria \u2013 The Federal Government has issued a fresh call for investors to participate in Abuja&#8217;s landmark $18.5 billion Centenary City project, Africa&#8217;s largest master-planned development designed to mirror Dubai&#8217;s smart city model. &nbsp;Project Highlights &nbsp;Government Backing Housing Minister Ahmed Dangiwa confirmed the project aligns with President Tinubu&#8217;s Renewed Hope Cities agenda, stating: &#8220;This [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":176,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[3,139,132],"tags":[138],"class_list":["post-175","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-development","category-investment","tag-centenary-city"],"formatted_date":"1 year Ago","categories_names":["News","Development","Investment"],"fimg_url":"https:\/\/assets.propertymarketplace.com.ng\/blg\/uploads\/2025\/04\/cetinary-city-abuja-377x300.jpg","_links":{"self":[{"href":"https:\/\/propertymarketplace.com.ng\/blog\/wp-json\/wp\/v2\/posts\/175","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/propertymarketplace.com.ng\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/propertymarketplace.com.ng\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/propertymarketplace.com.ng\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/propertymarketplace.com.ng\/blog\/wp-json\/wp\/v2\/comments?post=175"}],"version-history":[{"count":1,"href":"https:\/\/propertymarketplace.com.ng\/blog\/wp-json\/wp\/v2\/posts\/175\/revisions"}],"predecessor-version":[{"id":177,"href":"https:\/\/propertymarketplace.com.ng\/blog\/wp-json\/wp\/v2\/posts\/175\/revisions\/177"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/propertymarketplace.com.ng\/blog\/wp-json\/wp\/v2\/media\/176"}],"wp:attachment":[{"href":"https:\/\/propertymarketplace.com.ng\/blog\/wp-json\/wp\/v2\/media?parent=175"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/propertymarketplace.com.ng\/blog\/wp-json\/wp\/v2\/categories?post=175"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/propertymarketplace.com.ng\/blog\/wp-json\/wp\/v2\/tags?post=175"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}