Amid mounting concerns over the prolonged delay in completing the $18.5 billion Abuja Centenary Economic City project, the Senate has taken decisive action by establishing a 7-member ad-hoc committee. Tasked with unraveling the factors impeding the project’s progress a decade after its commencement, the committee aims to conduct a comprehensive investigation.
In a bid to expedite the project’s completion and ensure adherence to the original public-private partnership agreement, the Senate has directed the committee to review the agreement and propose amendments if deemed necessary. Additionally, the Federal Government has been urged to prioritize the revival of the Abuja Centenary City project by extending essential support and resolving regulatory hurdles.
The impetus for these actions was a motion titled “Urgent need to revive and complete the stalled Centenary City Project, Abuja to realize its economic and development potential,” sponsored by Senator Oyelola Ashiru of Kwara South (APC).
Senator Ashiru underscored the significance of the project, which was conceived in 2014 to commemorate Nigeria’s centenary through the creation of a modern city akin to Dubai. Envisioned as an economic powerhouse, the Abuja Centenary Economic City was poised to generate employment, accommodate residents, and attract visitors on a grand scale.
Despite the initial optimism and substantial investment, the project has languished for nearly a decade, achieving only minimal progress. Senator Ashiru cited an independent investigation assessment from November 2023, which revealed a stark disparity between the project’s current status and its ambitious vision.
The regulatory and implementation challenges have further exacerbated the project’s stagnation, prompting Senator Ashiru to emphasize the urgent need for intervention. He cited the success of similar ventures, such as the $6 billion Eko Atlantic City development project in Lagos, as a testament to the transformative potential of well-executed urban projects.
