Repositioning Abuja to emerge among the top 20 cities of the world and eventually become the leading spot for investment by 2020 is capital intensive.

This was disclosed by the Minister of State for Finance and supervisory Minister of the FCT, Remi Babalola at the Abuja Business and Investment Roundtable organised by the Economist Conferences.

The minister said: “We shall build on Abuja’s truly cosmopolitan character to create an environment for symbiotic partnership between the private and public sectors to jointly make Abuja the hub for business and leisure in Africa.”

At the conference attended by captains of industry, government officials and foreign companies, the minister said not less than $15 billion would be needed to achieve this vision for Abuja, which would include massive projects in light rail, power, water and other infrastructure.

He noted that there would have to be a change in the way government does business for this target to be achieved. He said for that reason, government would work deliberately to reduce the layers of bureaucracy for which it has come to be known. It would also work on enhancing productivity and improving service delivery.

Apart from also ensuring security of lives and property, government hopes to share experiences with successful cities around the world to achieve world class standards.
The Minister remarked that the FCT administration is already working on a blueprint to source the needed funds from the organized private sector where the government would only serve as catalyst.
He also stressed that from all the options so far examined, the best alternative is by bringing in genuine investors under the public-private-partnership arrangement as the FCT Administration is desperately determined to provide the basic infrastructure in consonance and dictates of the Abuja Masterplan.

snazzy82:

At the conference attended by captains of industry, government officials and foreign companies, the minister said not less than $15 billion would be needed to achieve this vision for Abuja, which would include massive projects in light rail, power, water and other infrastructure.

$15 billion of essentially Niger-Delta money.

considering Nigeria, they are most likely going over budget

abuja is a failure. it is time to give up.  The first thing they teach you in business school  call is LOCATION, LOCATION and LOCATION. If the location can not attract business. forget it. Abuja can not . Abuja should be a state. all they need to do is join the south part of kaduna state with abuja to create abuja state. Abuja is the road TO NOWHERE. There is no light at the end of the tunnel for abuja.

Of the over $50 billion invested in Abuja, we have not got $1 dollar back. It is time to stop wasting our money on useless project. We should look for somewhere that can generate money for us. Lagos is generating. Look for another place,  And they found it in Olokoda and where is the govt side of the investment. .  A nation most alway have a development project.

Honestly if you have a business and invest $50 billion in it and have not made $1 dollar profit , do you continue with it. ?